After several strong weeks in a row, the Initial Public Offering (IPO) market has slowed. Traditionally, this happens the second half of August. Watch for deal flow to pick up in September.
Up this week is Aridia Pharmaceuticals (ARDS) that is going to be priced between $13-$15. 2,000,000 shares are being priced so this is a tiny deal. The underwriters are Cantor, Maxim, Laidlaw, Northland and Seaport. Clearly, a third tier deal. We do not expect much of a pop.
Second up this week is BioNano Genomics (BNGO) that is going to be priced between $5-$6. 5,500,000 shares are being priced so this is a small deal. The underwriters are Roth and Maxim. Clearly, a third tier deal. We expect a small pop of $0.50 to $0.75.
Looking beyond this week, there are 44 IPOs that could be priced between now and year-end. There are no rock star deals.
P.S. Contact us if you are interested in playing secondaries as there are many opportunities each day as the secondary window is wide open.