There was one initial public offering (IPO) last week and there is just one more scheduled for the coming week. But the pipeline for IPOs is filling up.

Last week’s major filing came from music streaming firm Spotify Technology SA, a Luxembourg-based firm that is seeking $1 billion in a direct (as opposed to an underwritten) public offering. Existing shareholders will sell registered shares directly on the New York Stock Exchange under the ticker symbol SPOT. We covered the details last week.

The sole IPO last week came from blank-check firm Union Acquisition Corp. (NYSE: LTN.U) which raised $100 million selling 10 million units at $10 per unit.

In the week before the President’s Day holiday, four firms did enter the public markets:

Through the week ending March 2, IPO ETF manager Renaissance Capital reported that 28 IPOs have priced in the U.S. so far this year, up about 65% year over year. Total proceeds raised through last week equaled $10.9 billion, up 33% year over year.

For 2017, Renaissance Capital reported a total of 160 IPOs, up 52% year over year from 105 in 2016. Total 2017 proceeds amounted to $35.5 billion compared with a 2016 total of $18.8 billion. Renaissance Capital does not include “best efforts” or blank-check companies in its totals, nor does it include IPOs that raise less than $10 million.

The single IPO on the coming week’s calendar is BioXcel Therapeutics Inc., a clinical stage biopharmaceutical firm developing new uses of drugs to treat neurological disorders and cancer. The company plans to offer 5 million shares in an expected price range of $11 to $13 to raise $60 million at a market cap of $182 million. Underwriters include Barclays, UBS Investment Bank, BMO Capital Markets, and Canaccord Genuity. Shares are expected to price Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol BTAI.

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