In the last week of October, no companies filed for an IPO. October was a difficult month for IPOs: 16 companies went public, pricing an average of 22% below their midpoint. Despite the massive valuation cuts, the average IPO return was just 3.4%, while the return on the S&P 500...read more
Continuing the recent trend, four out of five deals priced below the range.
This week, five companies raised $765 million, pricing an average of 19% below their proposed midpoints. All four deals that priced below traded up, popping 10% on average and ending the week up 12%; the one that priced in its range dropped 6% in its first day and ended the week down...read more
CPI Card Group, the largest US provider of plastic credit and debit cards, raised $150 million by offering 15 million shares (all primary) at $10, as anticipated by a filing on Thursday afternoon. The company had originally planned to sell 17.6 million shares (49% from insiders) at $16-$18, before cutting the deal size on Wednesday to 16 million shares (24% from insiders) at...read more
CPI Card Group, the largest US provider of plastic credit and debit cards, again lowered the proposed deal size for its upcoming IPO on Thursday. The Littleton, CO-based company now plans to raise $150 million by offering 15 million shares (all primary) at a price of $10. The company had originally planned to sell 17.6 million shares (49% from insiders) at $16-$18, before cutting...read more
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Week ahead: Two biotechs and a tech company
In the last week of October, no companies filed for an IPO. October was a difficult month for IPOs: 16 companies went public, pricing an average of 22% below their midpoint. Despite the massive valuation cuts, the average IPO return was just 3.4%, while the return on the S&P 500...read more
US IPO Weekly Recap: Cut the offer price for positive returns
Continuing the recent trend, four out of five deals priced below the range. This week, five companies raised $765 million, pricing an average of 19% below their proposed midpoints. All four deals that priced below traded up, popping 10% on average and ending the week up 12%; the one that priced in its range dropped 6% in its first day and ended the week down...read more
CPI Card Group prices IPO at $10, as expected
CPI Card Group, the largest US provider of plastic credit and debit cards, raised $150 million by offering 15 million shares (all primary) at $10, as anticipated by a filing on Thursday afternoon. The company had originally planned to sell 17.6 million shares (49% from insiders) at $16-$18, before cutting the deal size on Wednesday to 16 million shares (24% from insiders) at...read more
CPI Card Group decreases proposed IPO deal size again
CPI Card Group, the largest US provider of plastic credit and debit cards, again lowered the proposed deal size for its upcoming IPO on Thursday. The Littleton, CO-based company now plans to raise $150 million by offering 15 million shares (all primary) at a price of $10. The company had originally planned to sell 17.6 million shares (49% from insiders) at $16-$18, before cutting...read more