This past week saw four IPOs raise over $400 million, making it the year's busiest week by deal count. The first venture capital tech IPO, Acacia Communications (ACIA  ), had the year's best first-day pop (+35%), while CD&R's landscaping, SiteOne (SITE  ), had the year's second-best debut (+27%). Many analysts have commented that their success is likely due to strong business fundamentals, demonstrating growth and profitability, while pitched at a discount to peers.

There are four companies set to go public this week, but only one of them has substantial revenue and can boast a positive profit margin. That company is a small-cap Argentinian bank named Grupo Supervielle (SPUV  ). If all deals on the calendar launch successfully, that would mark 13 IPO launches in May. This is a significant improvement over April's eight IPO's and the first double digit IPO month since November 2015. While there could be new announcements in the weeks ahead, the next two weeks may be slow for IPO's as companies tend to avoid marketing around the Memorial Day holiday.

First up, and the largest this week, is Grupo Supervielle (SPUV  ). This is a family-owned and led bank that, according to its filings is looking to expand its capital base to take advantage of improved consumer and investor sentiment in Argentina since the "market-friendly" President Macri took office in December 2015. That said, there are ongoing political and economic uncertainties in Argentina which may provide for some extra volatility, most notably its 30% inflation rate. It plans to dual list in New York and Buenos Aires.

Next we have Merus (MRUS  ) According to their website this is a Dutch, 13-year old biotech which has a lead candidate in a Phase 1 trial for the treatment of "various HER2-expressing cancers including some breast, colorectal and lung cancers". Data is expected in the second half of 2016. It is at least 5 years from gaining approval for these drugs which are targeting an $8.7 billion market. This $65 million deal plans to price in the $14-16 range, issuing around 4.3 million shares. There are some notable shareholders including Novartis (NVTS  ), J&J (JNJ  ) and Pfizer (PFE  ).

The smallest deal of the week is PhaseRx (PZRX  ). PhaseRx is a microcap, preclinical biotech, company looking to raise money to achieve preclinical proof of concept and ramp manufacturing for its lead candidate. The company is planning to sell 3.7 million shares in the $5-7 range which would net them around $22 million.