We have two initial public offerings today. We have a poor pricing from Addus HomeCare Corporation (NASDAQ: ADUS) and a solid pricing from a Blackstone interest in the Vitamin Shoppe Inc. (NYSE: VSI) IPO.
Addus HomeCare Corporation (NASDAQ: ADUS) is joining the realm of disappointing initial public offerings. The home-based medical and social service company, which would seem to be a big growth segment ahead, priced its 5 million share IPO at $10.00 per share. This is below the $11.00 to $12.00 range. Robert W. Baird and Oppenheimer & Co. were joint book-running managers, and Stephens Inc. was listed as the co-manager.
Vitamin Shoppe Inc. (NYSE: VSI) actually looks like it broke the poor IPO trend. This company, which sells vitamins and supplements priced its 9.096 million share IPO at $17.00. This one is ABOVE the $14.00 to $16.00 per share range in an IPO being brought public by J.P. Morgan, BofA Merrill Lynch, and Barclays. The Blackstone Group (NYSE: BX) is a holder of this company.
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JON C. OGG