There were 10 initial public offerings (IPOs) on the calendar last week, and 10 firms succeeded in gaining access to the public markets, although a couple of those scheduled were delayed and a couple of others stepped up. The total amount raised reached a combined $1.6 billion and the average first-day pop was around 10%, a bit below the 13% average, but none of last week’s IPOs broke issue and closed lower than the offering price.
There are 10 more IPOs on the coming week’s calendar, and they are looking to raise a combined total of about $1.9 billion. This is the last big week for IPOs before Thanksgiving and probably the last for the year.
Here’s a recap of last week’s IPOs:
CBTX Inc. (NASDAQ: CBTX) raised $62 million on the sale of 2.4 million shares at $26, the high end of the expected range. Shares popped 10% on the IPO and closed the week up 12%.
Meridian Bank (NASDAQ: MRBK) raised $40 million on the sale of 2.4 million shares at $17, the low end of the expected range. Shares popped 7% on the Friday IPO.
Sogou Inc. (NYSE: SOGO) sold 45 million shares at $13, the high end of the expected range, raising $585 million. Shares popped 4% on the IPO and closed the week up 7%.
Erytech Pharmaceuticals S.A. (NASDAQ: ERYP) raised $109 million on the sale of 4.7 million shares priced at $23.26. Shares popped 6.4% on the Friday IPO.
Bandwidth Inc. (NASDAQ: BAND) ) raised $80 million on the sale of 4 million shares at $20 a share, the low end of the range. Shares popped 6% on the Friday IPO.
Metropolitan Bank Holding Corp. (NYSE: MCB) raised $109 million on the sale of 3.1 million shares at $ 35, above the expected range. Shares added 6% on the Friday IPO.
PPDAI Group Inc. (NYSE:PPDF) raised $221 million on an offering of 17 million shares at $13, below the expected range. Shares added 1% on the IPO on the Friday IPO.
Apellis Pharmaceuticals Inc. (NASDAQ: APLS) raised $150 million on the sale of 10.7 million shares at $14, the mid-point of the expected range. Shares closed flat on the Thursday IPO and flat for the week.
Four Seasons Education (Cayman) Inc. (NYSE: FEDU) raised $101 million on its offering of 10.1 million shares prices at $10, the mid-point of the expected range. Shares dropped 5% on the IPO and closed the week flat.
InflaRX N.V. (NASDAQ: IFRX) raised $100 million on the sale of 6.7 million shares at $15, the mid-point of the expected range. Shares closed the week unchanged.
Through the week ending November 10, IPO ETF manager Renaissance Capital reported that 141 IPOs have priced in the United States so far this year, up nearly 47% year over year. Total proceeds raised through last week equaled $33.2 billion, up nearly 98% year over year.
For 2016, Renaissance Capital reported a total of 105 IPOs, down 38% year over year from 170 in 2015. Total 2016 proceeds amounted to $18.8 billion compared with a 2015 total of $30 billion. Renaissance Capital does not include “best efforts” or blank-check companies in its totals, nor does it include IPOs that raise less than $10 million.