This year's initial public offering calendar got a lot sweeter today (Tuesday) with the announcement of a Hostess IPO in 2016.
The iconic American baker of Twinkies, Ding Dongs, and Wonder Bread says it has agreed to sell a majority stake to a public-affiliated acquisition vehicle of Gores Group LLC for about $723 million.
It's a big announcement, as the IPO market in 2016 has been mostly empty. Only nine companies debuted in the United States in Q1 2016. Only 30 launched in Q2.
Despite the lack of deals, the ones that have debuted have done well.
Companies that went public in 2016 are up 16% on average from their offer price. That is a notable improvement from last year. Companies that launched in 2015 are currently down 11% from their IPO price through last Wednesday, according to Dealogic.
This year's figures bode well for companies set to debut in the remainder of the year.
Much of the Hostess IPO details are still unfolding, such as the Hostess IPO date, Hostess IPO price range, and the number of shares to be offered.
But we did learn a lot about the upcoming Hostess IPO during today's announcement. Here are the top 10 must-know facts...
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