IPO Watch: Offerings Rake in $890 Million
NEW YORK ( TheStreet) -- There was a rush of initial public offerings this week, as companies look to close deals before Thanksgiving.
The hoopla surrounding the offerings were mixed for the five companies that came to market. In total, the IPOs raised $889.5 million this week.
Archipelago Learning (ARCL) raised $103.1 million in its initial public offering, after 6.3 million shares priced at $16.50, near the high end of estimates. The company expected the stock to price between $15 and $17 each.
Shares of the company, which provides Web-based educational testing and study aid to students in kindergarten through 12th grade, are spiking 13.8% to $18.77 in morning trading.
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