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US IPO Weekly Recap: 3 IPOs struggle alongside choppy markets

This week has been particularly weak for the IPO space. Three companies raised a combined $203 million and each broke issue. Coal producer, Contura (CTRA), pulled its IPO altogether. Broader markets traded down as the VIX Volatility Index closed a YTD high and 2017 aftermarket returns turned negative, now -1.5%.

Additionally, both Snap (SNAP) and Blue Apron Holdings (APRN) reported shaky earnings this
week, causing shares to plummet -12.5% and -12.4%, respectively. Snap's user growth and net losses came in below street expectations while Blue Apron guided to a revenue growth of less than 10% year-over-year for 2H17. Investors have clearly lost confidence in what were among the most highly anticipated deals this year, putting other "unicorns" on notice.

3 IPOs During the Week of August 7, 2017
Issuer
Business
Deal Size
($mm)
Market Cap
at IPO ($mm)
Price vs.
midpoint
First day
return
Return
at 8/11
Zealand Pharma (ZEAL) $78 $546 n/a -0.3% +0.2%
Licenses approved and investigational peptide-based treatments for diabetes.
Ranger Energy Services (RNGR)
$85 $217 -14.7% -1.9% -1.9%
Provides well services for E&P...

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