While all four of last week’s initial public offerings (IPOs) went out as scheduled, the results were tepid at best. Three of the four price below the mid-point of their expected ranges and the biggest first-day pop was a meager 4.5%. Seven IPOs are on the calendar for the coming week.

Argentina’s Grupo Supervielle SA (NYSE: SUPV) family-controlled bank raised $281 million in an upsized IPO that priced below its midpoint. Shares traded up 4.5% on Friday.

Merus BV (NASDAQ: MRUS) raised $55 million but priced 33% below its midpoint; Pulse Biosciences Inc. (NASDAQ: PLSE) raised $20 million and was the only one of last week’s IPOs to price at the midpoint of its expected range; and PhaseRx Inc. (NASDAQ: PZRX) raised $19 million but priced 17% below the midpoint of its expected range.

Through the week ending May 20th, IPO ETF manager Renaissance Capital reported that 26 IPOs have priced in the U.S. so far this year, down about 62% from a year ago. Total proceeds raised through last week equaled $3.8 billion, down about 69% compared with the same period in 2015. Of the 26 IPOs that have gone off this year, 16 have come from the healthcare sector. Last year’s IPO total came in at $30 billion on 170 offerings. Renaissance Capital does not include “best efforts” or blank-check companies in its totals.

One company returning to the calendar this week is Cancer Prevention Pharmaceuticals Inc., a clinical-stage biopharmaceutical company developing and commercializing therapeutic agents to treat and prevent certain pre-cancerous conditions, orphan diseases, and gastrointestinal conditions. The company downsized it offering from 1.9 million shares to 1.3 million in an expected price range of $12 to $14 to raise $16.3 million at an implied market cap of $96.5 million. Sole bookrunner for the offering is Aegis Capital Corp. Shares are listed as day to day and are expected to trade on the New York Stock Exchange under the ticker symbol CPP.

Midland States Bancorp Inc. is a financial holding company with branches in Illinois, Missouri, and Colorado. The company plans to offer 3.9 million shares in an expected price range of $25 to $27 to raise about $101 million at an implied market cap of $387 million. Joint bookrunners for the offering are Sandler O’Neill and Keefe Bruyette Woods. Co-managers are D.A. Davidson and Stephens Inc. Shares are expected to price Monday and begin trading Tuesday on the Nasdaq under the ticker symbol MSBI.

Clearside Biomedical Inc. is a late-stage biopharmaceutical company developing drug therapies to treat blinding diseases. The company plans to offer 4 million shares in an IPO range of $14 to $16 to raise $60 million at an implied market cap of $244 million. Joint bookrunners for the offering are Cowen & Co. and Stifel. Co-managers are Needham & Co. and Wedbush PacGrow. Shares are expected to price Tuesday and begin trading Wednesday on the Nasdaq under the ticker symbol CLSD.

Cotiviti Holdings Inc. provides analytics-driven payment accuracy solutions with a primary focus on the healthcare sector. The company plans to offer 12.5 million shares in an expected range of $17 to $19, raising $225 million at an implied market cap of $1.62 billion. Joint bookrunners for the offering include Goldman Sachs, J.P. Morgan, Barclays, Citi, Credit Suisse, Morgan Stanley, RBC Capital Markets, and SunTrust Robinson Humphrey. Co-managers are Baird and William Blair. Shares are expected to price Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol COTV.

GMS Inc. is the leading North American distributor of wallboard and other interior construction products. The company is the successor to Gypsum Management & Supply Inc. and plans to offer 7 million shares in an IPO price range of $21 to $23 to raise $154 million at an implied market cap of $718 million. Joint bookrunners for the offering are Barclays, Credit Suisse, RBC Capital Markets, Baird, and Wells Fargo Securities. Co-managers are SunTrust Robinson Humphrey, Raymond James, and Stephens Inc. Shares are scheduled to price Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol GMS.

Landcadia Holdings Inc. is a blank-check company planning to offer 30 million units consisting of 1 class A common share and one warrant entitling the owner to purchase one-half of a class A common share at $5.75. Units are priced at $10 each to raise $300 million at an implied market cap of $375 million. Joint bookrunners are Jefferies and Deutsche Bank. Shares are expected to begin trading Thursday on the Nasdaq under the ticker symbol LCAHU.

Reata Pharmaceuticals Inc. is a clinical stage biopharmaceutical company developing product candidates to address medical needs of patients with a variety of serious or life-threatening diseases. The company plans to offer 4 million shares in an IPO price range of $14 to $15 to raise $60 million at an implied market cap of $300 million. Joint bookrunners for the offering include Citi, Cowen & Co., and Piper Jaffray. Shares are expected to price Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol RETA.

US Foods Holding Corp. is one of two national food service distributors in the U.S. The company plans to offer 44.4 million shares in an expected price range of $21 to $24 to raise $1 billion at an implied market cap of $4.81 billion. Joint bookrunners include Goldman Sachs, Morgan Stanley, J.P. Morgan, BofA/Merrill Lynch, Citi, Credit Suisse, Deutsche Bank, Wells Fargo Securities, and KKR. Co-managers include BMO Capital Markets, Guggenheim Securities, ING, Rabo Securities, and Natixis. Shares are expected to price Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol USFD.

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