Two companies, one a promising biotech, the other an electricity retailer, were forced to pivot their funding plans midstream when securities regulators required additional, last-minute disclosure.
Atara Biotherapeutics has postponed its IPO ahead of expected pricing this evening, despite strong investor demand for the offering. The decision to postpone followed the receipt by the company of data on ongoing clinical trials, according to several market sources close to the situation.
Low stock market volatility and continued strength of secondary markets led to elevated risk tolerance among investment banks last week, resulting in a string of block trades. The big winners were the private equity firms that sold a combined US$2.62bn of their portfolio holdings at little-to-no discount to market prices.