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AJX News

US IPO Weekly Recap: No IPOs in final week of a challenging February

There were no initial public offerings in the past week, but recent IPO performance continues to trend up. The 24 IPOs in 2015 now average +18%, including +5% after the first day, its highest point this year. A few highlights from February 2015:10 IPOs priced in February, down from 20 in 2014 • These returned 7.5% on average; ...read more

A dog of a mortgage REIT: Cerberus Mortgage Capital withdraws $150 million IPO

Cerberus Mortgage Capital, a mortgage REIT investing in Agency and non-Agency RMBS, withdrew its plans for an initial public offering on Friday. Mortgage REITs have faced some resistance this year. Sutherland Asset Management (SLD) postponed its IPO in January and Great Ajax (AJX) trades below its offer price. Equity REIT's InfraREIT (HIFR; +17%) and Easterly Government...read more

US IPO Weekly Recap: Big data produces small returns in a selective IPO market

INOV

Five companies had below-average returns and brought the number 2015 IPOs up to 22, a 39% decline from this time last year... IPO highlights during the week of February 9, 2015 • ...read more

Great Ajax prices downsized IPO below the range at $14.25

AJX

Great Ajax, a recently-formed REIT focusing on re-performing and non-performing mortgages, raised $71 million by offering 5 million shares (25% insider) at $14.25, below the range of $15 to $17. Great Ajax plans to list on the NYSE under the symbol AJX. Great Ajax initially filed confidentially on 9/23/2014. FBR Capital Markets, Sterne Agee and Nomura Securities acted as lead...read more