AMERICAS

摘要

The looming US election and a deluge of third-quarter earnings reports threaten to slow the momentum in US ECM in the coming weeks, though syndicate desks remain intent on taking a long list of companies public in that time. Even with the disruption of Monday's Columbus Day holidays (the SEC was closed to new filings) and some mixed pricing outcomes, 19 issuers still managed to raised a total of US$6.5bn of equity and equity-linked proceeds in the past week. The past week's biggest deals included US$lbn-plus offerings from Royal Caribbean Cruises and Americold Realty Trust on Tuesday as well as a sizeable US$728m all-secondary follow-on offering of Royalty Pharma shares priced on Thursday night. However, there were more signs of investor fatigue. Surgical implant maker Spinal Elements' US$115m Nasdaq IPO postponed its IPO late on Wednesday, Codiak Biosciences staged one of the worst debuts of the year on Wednesday and RV dealer and former SPAC Lazydays opted to withdraw a US$60m follow-on early on Friday after its shares slumped during marketing.