IPO Market Still in Doldrums; Only 5 Priced So Far in 2016

Bloomberg BNA’s Corporate Law & Accountability Report is available on the Corporate Law Resource Center. This news service keeps corporate practitioners informed of legal developments of...

By Che Odom

March 7 — The number of companies announcing plans for initial public offerings continues to grow this year, but only a handful have actually gone public, according to data from Bloomberg Law: Corporate Transactions.

Since Jan. 1, only five companies have completed their IPOs this year, down more than 80 percent from this time last year. Of those five, biotech company Syndax Pharmaceuticals Inc.'s IPO is the latest to price on Feb. 23.

At the same time, about 50 companies have announced plans for an IPO since Jan. 1, and many remain in the pipeline from 2015, including issuances from BATs Global Markets Inc. and SoulCycle Inc.

All of this year's IPOs that have priced come from the health-care sector.


New rulemaking out of the Securities and Exchange Commission, alternative methods of financing and market volatility may be behind the low numbers .

To highlight just how lackluster this year's issuances have been, there were 41 IPOs completed in the first quarter of 2015, according to PricewaterhouseCoopers US data. The 2015 numbers represented a 42 percent decrease compared to the first quarter of 2014, when 71 IPOs were completed in what PwC described as a “robust” period for the offerings.

To contact the reporter on this story: Che Odom in Washington at codom@bna.com

To contact the editor responsible for this story: Yin Wilczek at ywilczek@bna.com

U.S. IPOs Announced in February 2016
Issuer Date Announced Offer Size Left Lead Bookrunner Legal Adviser Offer Stage Offer Price
Red Fish Holdings Inc. 02/19/2016 $0.20M Pending
Healthcare Royalty Trust Plc 02/17/2016 $286.24M Pending
Corporate Coaches Inc. 02/12/2016 $0.20M Hateley & Hampton Pending
Far Sighted Media Inc. 02/11/2016 $1.98M Adam S Tracy Esq Pending
Sensus Healthcare Inc. 02/10/2016 $23.00M Joseph Gunnar & Co. Gunster Yoakley & Stewart PA Pending
US Foods Holding Corp. 02/09/2016 $100.00M Jenner & Block LLC Pending
GRCR Partners Inc. 02/08/2016 $0.25M Daniel H Luciano Esq Pending
Colony Global Acquisition Corp. 02/05/2016 $300.00M Credit Suisse Skadden Arps Slate Meagher & Flom Pending
Leng Universal Inc. 02/02/2016 $10.00M Adam S Tracy Esq Pending
Moleculin Biotech Inc. 02/01/2016 $12.00M Bonwick Capital Partners LLC Schiff Hardin LLP Pending