The IPO window slams shut
The IPO window appears to have closed just as quickly as it reopened.
The big picture: All four major U.S. IPOs from September and early October are now trading below their offering prices, despite all operating in different industry sectors, thus chilling other companies that were considering 2023 offerings.
Elsewhere: Health care software provider Waystar just delayed an IPO road show that had been set to launch this week, while private equity firm CVC Capital Partners has postponed its Amsterdam listing.
Look ahead: One small bright spot could be Lexeo Therapeutics, a New York-based gene therapy startup focused on genetic cardio and CNS conditions, which is currently on the road with plans to sell 9m shares at $13-$15.