After the final week in February failed to produce a successful initial public offering (IPO), the first week of March saw two companies begin trading. Summit Therapeutics PLC (NASDAQ: SMMT) went out at $9.90 on Thursday and closed Friday at $10.29. MaxPoint Interactive Inc. (NYSE: MXPT) priced at $11.50 and went out Friday morning at $11.00, before closing down 15% at $9.76.

IPO ETF manager Renaissance Capital reported that 26 IPOs have priced in the United States so far this year, down about 35% from a year ago. Total proceeds raised come to $4 billion, down about 44% compared with the same period in 2014. Of the 26 IPOs that have gone off this year, 14 have come from the health care sector. Last year’s IPO total came in at $85.2 billion, the highest total in the past 10 years. Renaissance Capital does not include OTC listings or blank check companies in its IPO data.

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A “best efforts” IPO has been held over for another week. Wowo Ltd. is a China-based lifestyle, e-commerce platform. The company plans to offer 6 million shares in an expected price range of $9 to $11, raising $60 million at a market cap of around $384 million. The offering is being made on a best efforts basis and is not tracked by Renaissance Capital. The sole bookrunner on the offering is Axiom Capital Management. Shares are listed as “day-to-day” and will trade on the Nasdaq under the ticker symbol WOWO.

Another “best-efforts” IPO will try to make it out the door next week. Tantech Holdings Ltd. is a China-based maker of bamboo-based charcoal products for industrial energy applications and household cooking, heating, purification, agricultural and cleaning uses. The company plans to offer 3.2 million shares in an expected range of $4 to $6, raising $16 million against a market cap of $108 million. The offering is being made on a best efforts, all or none basis and is not underwritten. The trading date is listed only as the week of March 9. Shares will trade on the Nasdaq under the ticker symbol TANH.

Summit Materials Inc. is a heavy-side construction materials company based in Denver. The company plans to offer 22.2 million shares in an expected price range of $17 to $19, raising $400 million on a market cap of $418.5 million. Joint bookrunners for the offering are Citigroup, Goldman Sachs, Bank of America Merrill Lynch, Barclays, Deutsche Bank and RBC Capital Markets. Co-managers include Blackstone Capital Markets, BB&T Capital Markets, Stephens, Sterne Agee and Stifel. Shares are expected to price on Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol SUM.

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