2 More IPOs Make Their Trading Debuts Today

GBS
opened for trading and both ended up breaking in their debuts.
Shares of Inhibikase (ticker: IKT) rose as much as 18% Wednesday. The stock opened at $10.67, hit a high of $11.80, and closed at $9.90. Because it finished 10 cents below its $10 IPO price, Inhibikase is considered a broken deal.
Late Tuesday, Inhibikase raised $18 million after cutting the size of its deal but pricing significantly above its expected range. The Atlanta company had initially planned to sell 2,272,727 shares at $10 to $12, then cut it to 1.4 million, which was then reduced to the current 1.8 million shares at $10 each.
Inhibikase was scheduled to trade last month, but delayed the deal. ThinkEquity, a division of Fordham Financial Management, is the underwriter on the deal.

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