Get ready for the underwriting floodgates to open next week. There are many deals that have been in the IPO hopper for weeks or months, and next week is the last week that the IPO markets will be highly receptive to underwriters. After next week we’ll hit the Christmas, Hanukah, and New Years lull and the IPO markets (and probably the secondary markets) will begin to phase out until after the first of the year.
Some selected deals scheduled for potential pricing next week are as follows: Affymax (AFFY), Altra Holdings (AIMC), Artest Medical (ARTE), Double-take Software (DBTK), Cal-Dive International (DVR), Claymont Steel, Guidance Software (GUID), Newstar Financial (NEWS), and US BioEnergy (USBE).
Those are just a part of the full list, and it is likely that some will not make it out of the IPO gate before the year-end. What is very likely is a large number of IPO’s to the tune of 5 IPO’s in a single day on either Wednesday or Thursday of next week. But after that the underwriters will be "going dark" until January, at least that has always been the case in at least the last decade. There may be a couple of deals that get priced after next week, but that’s about it.
Jon C. Ogg
December 6, 2006