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Ipreo Early Edition – The Week Ended January 15, 2016

Ipreo Early Edition – The Week Ended January 15, 2016

As the masses looked upon their Powerball tickets realizing they had not won the unprecedented $1.6 billion jackpot, three winning tickets were announced in California, Tennessee and Florida. Meanwhile, the new issuance market appeared to be historically light as only 4 deals priced with 0 IPOs, 1 Follow-On ($224.5 M), 3 block trades ($645.8 M), and 0 convertible deals for proceeds of just $870.4M. Three out of the four deals which came to market arose from the Financial sector raising a total of $644.4 million and averaging $214.8 million. The final deal of the week came from the Energy sector, raising $226.0 million. Looking at the year-ago period, the first week of 2015 saw 18 deals price for $6.6B in total proceeds, with an average deal size of $366.3M compared to $217.6M last week. Though no IPOs came to market last week, it fared only slightly worse than the  three years preceding it as only three issuers in total debuted in the second week of 2013, 2014 and 2015. Looking ahead, only two deals are currently expected to price; Shimmick Construction Company, Inc., seeking to raise $75.0M in its market debut and Elevate Credit, Inc. which is seeking to raise $75.6M.

The Early Edition -1-15-16