The S&P 500 has now bounced 8% off its lows of this year. While the IPO markets have been almost non-existent, IPO investors are hopeful that a small S&P recovery, along with reduced volatility will spark the IPO markets.
After they ditched their IPO attempt in June 2014, Syndax Pharmaceuticals (NASDAQ: SNDX) feels that they will finally be able to go public this week. According to their press releases, Syndax has shifted its business focus after discovering new indications for its immuno-oncology drug. They will attempt to raise $66 million by offering 4.4 million shares at a range of $14-16.
Jensyn Acquisition (NASDAQ: JSYN) which is a "blank check" company is set to raise $40 million by offering 4 million shares at $10. A blank check company is a company that has no business model other than to acquire an existing business. Jensyn will be focused on acquiring an IT consulting business that it has had its eye on since early 2015.
Lastly, KLR Energy Acquisition, which originally expected to price its $130 million offering last week, moved to day-to-day status. This is another "Blank check" company formed by KLR Group to acquire a US oil and gas company. The KLR delay comes on the heels of Silver Run Acquisition's successful IPO this past week.
February is historically known to be a slow month for IPO's. This time it is unusually quiet as no company has submitted an initial filing for the month yet.