Silver Run Acquisition Corp (SRAQU), the investment firm targeting to buy assets of oil and gas companies, sold 450 million shares at $10 each in an initial public offering (IPO) that allowed for unit warrant buying of $16 per class A share.
There were four other IPOs so far this year. Neurological medicine provider Avexis Inc (AVXS) offered at $20 per share, cancer therapies developer Beigene Ltd (BGNE) at $24, and wellness products maker P-Kay Boutiques Inc (PKAY) at $1 per share. In addition, Proteostasis Therapeutics Inc (PTI), the researcher to control protein biosynthesis, launched 6.25 million shares at $8 each.
In 2015, a total of twenty-two companies debuted on the U.S. stock market. Upcoming in March are asset reorganization firm KLR Energy Acquisition Corp (KLREU) and Syndax Pharmaceuticals Inc (SNDX), the therapies developer against multiple cancer, at $149.50 million and $80.96 million, respectively.
Crude prices bounced off a technical level just below $31 in the past week. Related securities Energy Select SPDR Fund (XLE) was up $0.34 or +0.60% to $57.23 on Friday, United States Brent Oil Fund LP (BNO) up $0.03 or +0.27% to $11.05, United States Oil Fund LP (USO) down $0.02 or -0.23% to $8.78.