Of 10 initial public offerings (IPOs) on last week’s calendar, just five succeeded in reaching the public markets. Of that number, four priced below their expected ranges. The moral of that story is that investors in IPOs are bargain hunting, and that may be why the largest IPO on last week’s calendar — and one of the largest of the year to date — was withdrawn.

Digicel Group, a provider of mobile communications services, business solutions, cable TV and broadband and related services in the Caribbean and South Pacific regions, will not proceed with its IPO now. The company’s chairman said last week, “Recent volatility in equity markets has seen a number of IPOs listing at a discount to their signalled price range and this was a less attractive route for us.” The company had filed to raise approximately $1.8 billion.

Of the four IPOs that priced below their expected ranges, CPI Card Group Inc. (NASDAQ: PMTS) priced furthest below its midpoint (-41%), but also enjoyed the best first-day pop, closing up 22%. Aclaris Therapeutics Inc. (NASDAQ: ACRS) priced 27% below its expected midpoint but managed to add 14% by the end of the week. Allegiance Bancshares Inc. (NASDAQ: ABTX) and CytomX Therapeutics Inc. (NASDAQ: CTMX) also priced below their expected ranges, but posted single-digit percentage gains by Friday.

Only Pure Storage Inc. (NYSE: PSTG) priced at the midpoint of its range and finished its first week of trading down 2%. The stock dropped 6% on its first day of trading.

Through the week ending October 2nd, IPO ETF manager Renaissance Capital reported that 144 IPOs have priced in the United States so far this year, down about 35% from a year ago. Total proceeds raised through last week equaled $24.2 billion, down 66% compared with the same period in 2014. Of the 144 IPOs that have gone off this year, 67 have come from the health care sector. Last year’s IPO total came in at $85.2 billion, the highest total in the past 10 years. Renaissance Capital does not include “best efforts” or blank-check companies in its totals.

Five delayed IPOs are on the calendar for the coming week, along with six first-timers.

One postponed offering from last week, Fuling Global, is a Cayman Islands-based specialized production and distribution company for environmentally friendly plastic serviceware with manufacturing plants in China and the U.S. The company plans to offer 5 million shares at an IPO price range of $5 to raise $25 million at an implied market cap of about $83 million. Sole bookrunner for the offering is Burnham Securities. Shares are now expected to price in the week of October 12th and begin trading on the Nasdaq under the ticker symbol FORK. The IPO is listed as a “best efforts” deal.

A second IPO delayed from last week, Strongbridge Biopharma, is a biopharmaceutical company focused on the development, in-licensing, acquisition and eventual commercialization of multiple complementary products and product candidates within franchises that target rare diseases. The offering is a “transplant” from the Norwegian over-the-counter system. The company plans to offer 4.3 million shares at a price of $17.93, raising about $76.2 million at an implied market cap of $411.6 million. Joint bookrunners for the offering are Bank of America Merrill Lynch and Stifel. Co-managers are JMP Securities, Roth Capital and Arctic Securities. Shares are now expected to begin trading in the week of October 12th on the Nasdaq under the ticker symbol SBBP.

A third retry for the coming week is Cerecor, a clinical-stage biopharmaceutical company with the goal of becoming a leader in the development of innovative drugs that make a difference in the lives of patients with neurological and psychiatric disorders. The company plans to offer 4.2 million units in an expected price range of $6 to $7 to raise $27.5 million at an implied market cap of $57.6 million. Each unit comprises one share of common stock, one class A warrant to purchase one additional share of common stock, and one class B warrant to purchase another one-half share of common stock. Sole bookrunner for the offering is Maxim Group and the co-manager is Laidlaw & Co. (UK). Units are expected to price in the coming week and begin trading on the Nasdaq under the ticker symbol CERCU. The common stock will trade under the symbol CERC.

The fourth do-over from last week is SynCardia Systems, a medical technology company focused on developing, manufacturing and commercializing the SynCardia temporary Total Artificial Heart. The company plans to offer 2.5 million shares in an expected price range of $10 to $12 to raise $27.5 million at an implied market cap of $86 million. Sole bookrunner for the offering is Roth Capital. Shares are expected to begin trading in the coming week on the Nasdaq under the ticker symbol TAHT.

Sole Elite Group, a China-based maker of shoe soles used in the manufacture of sports shoes, did not complete its IPO as planned three weeks ago. The company plans to offer 3 million shares in an expected price range of $10 to $12 to raise $33 million at a fully diluted market cap of $198 million. Joint bookrunners for the offering are Dawson James and ViewTrade. Trading on the Nasdaq under the ticker symbol SOLE is listed as “day-to-day.”

Two blank-check companies are set to launch next week. Shanghai-based Pacific Special Acquisition Corp. is offering 5 million units at $10 per unit to raise $50 million. Each unit consists of one ordinary share, one Right entitling the holder to receive one-tenth of one ordinary share, and one Warrant entitling the holder to purchase one half of one ordinary share. Sole bookrunner is EarlyBirdCapital. Units are expected to begin trading the week of October 12 on the Nasdaq under the ticker symbol PAACU.

The other blank-check offering next week is Capital Acquisition Corp. III. The firm plans to offer 35 million units at $10 per unit to raise $350 million. Each unit consists of one share of common stock and one half of one warrant. A full warrant entitles the holder to purchase one share of common stock at a price of $11.50. Joint bookrunners for the offering are Citi, Deutsche Bank, and Credit Suisse. Co-managers are i-Bankers Securities and B. Riley. Units are expected to begin trading the week of October 12 on the Nasdaq under the ticker symbol CLACU.

Albertson’s Companies is a grocery store chain that operates approximately 2,200 store in 33 states. Brands include Albertsons, Safeway, Vons, and Jewel-Osco. The company plans to offer 65.3 million shares in an expected price range of $23 to $26 to raise $1.6 billion at an implied market cap of about $11.64 billion. Joint bookrunners for the offering are Goldman Sachs, Merrill Lynch, Citigroup, Morgan Stanley, Deutsche Bank, Credit Suisse and Barclays. Co-managers include Lazard Capital Markets, Guggenheim Securities, Jefferies, RBC Capital Markets, Wells Fargo Securities, BMO Capital Markets, Suntrust Robinson Humphrey, Telsey Advisory Group, Academy Securities, Ramirez & Co. and Blaylock Beal Van. Shares are expected to price Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol ABS.

First Data is the world’s largest merchant acquirer, helping to process credit and debit card payments for over 6 million business locations across 118 countries. The company plans to offer 160 million shares in an expected price range of $18 to $20, raising $3 billion at an implied market cap of $16.7 billion. Joint bookrunners for the offering include Citi, Morgan Stanley, Merrill Lynch, KKR, Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, Mizuho Securities, PNC Capital Markets, SunTrust Robinson Humphrey and Wells Fargo Securities. Co-managers are Allen, BBVA and Cowen. Shares are expected to price Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol FDC.

Adesto Technologies provides application-specific, non-volatile memory products optimized for the Internet of Things market. The company plans to offer 4.1 million shares in an IPO price range of $10 to $12 to raise $45.1 million at an implied market cap of $153.4 million. Joint bookrunners for the offering are Needham and Oppenheimer. Co-manager is Roth Capital. Shares are expected to price Thursday and begin trading Friday on the Nasdaq under the ticker symbol IOTS.

American Farmland is an internally managed real-estate company (REIT) that owns a diversified portfolio of high-quality farmland and farmland development projects in the United States. The company plans to offer 12 million shares in an expected price range of $8.50 to $10.50 to raise $114 million at an implied market cap of $217.6 million. Joint bookrunners for the offering are Deutsche Bank, Citi, Raymond James, RBC Capital Markets and FBR Capital Markets. Co-managers are Janney Montgomery Scott, Oppenheimer and Wunderlich Securities. Shares are expected to price Thursday and begin trading Friday on the New York Stock Exchange under the ticker symbol AFCO.

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