The IPO Buzz: Wrapping Up December

If you listen closely, you might hear the engine of the IPO Express gearing up for the final run of the year. This week’s calendar has three deals and next week’s roster shows just one name to close out 2017. In short, the 2017 IPO Express is running pretty much on schedule.

Here are the “by-the-year” numbers for the previous five years, according to the U.S. Securities and Exchange Commission’s filings:

  • 2016: The last IPO started trading on Dec. 15, 2016.
  • 2015: The last IPO started trading on Dec. 17, 2015.
  • 2014: The last IPO started trading on Dec. 18, 2014.
  • 2013: The last IPO started trading on Dec. 17, 2013.
  • 2012: The last IPO started trading on Dec. 18, 2012.

The final IPO of 2017 is set to start trading on Dec. 20.

Wall Street’s population is also likely to start thinning out this week, with the celebration of Hanukkah starting at sundown on Tuesday, Dec. 12, and running through Dec. 20.

Drugs, Broadband and Real Estate

Before we jump ahead to next week, let’s look at this one and its three deals. The trio is expected to raise $763.4 million.

The names are: Adial Pharmaceuticals (ADIL – proposed), Casa Systems (CASA – proposed) and Newmark Group (NMRK – proposed).

Adial Pharmaceuticals, based in Charlottesville, Virginia, is a clinical-stage biopharmaceutical company developing genetically targeted treatments for alcohol-use disorder. It is a small-cap IPO of 1.4 million shares at $9 to $11 each.

Casa Systems, based in Andover, Massachusetts, provides products and solutions that enable its customers to supply and manage broadband connectivity at high speeds. Casa’s converged cable-access platform solutions let cable service providers deliver voice, video and data services over a single platform at multi-gigabit speeds. The company offers its software-centric broadband products in North America, Latin America, Europe, the Middle East, Africa and the Asia-Pacific region. This is an IPO of 8.4 million shares at $15 to $17 each.

Newmark Group, based in New York City, is a commercial real estate advisory firm offering services and products that include investment sales, debt and structured finance and loan sales, agency leasing, property management, valuation and advisory services and loan servicing. The company, once known as Newmark Grubb Knight Frank, was acquired by Cantor Fitzgerald’s BGC Partners in 2011. This is an IPO of 30 million shares at $19 to $22 each.

(For more information about this company and others in this column, please check the profiles found on’s website.)

December’s Last Ride

For the week of Dec. 18, 2017, the IPO calendar has just one deal. The company is known as Advantage Insurance (AVI – proposed), a San Juan, Puerto Rico-based specialty life insurance.

Stay tuned.

Disclosure: Neither the author nor anyone else on the staff has a position in any stocks mentioned, nor do we trade or invest in IPOs. The author and staff do not issue advice, recommendations or opinion.