On the NYSE, investment bank and financial advisor Moelis & Company (MC) priced 6.5 million shares—less than expected—at $25, below the $26 to $29 range.
On the NASDAQ, California commercial bank Opus Bank (OPB) priced 5.1 million shares (again, less than expected) at $30, below the $31 to $34 price talk. Separately, stent developer TriVascular Technologies (TRIV) priced 6.5 million shares at $12, below the $13 to $15 range.
Is this something to worry about? No, this is actually healthy. Because the stock market has been squishy, the IPO market is repricing downward. Everything is getting done, just at a lower price. This is the capital market working exactly the way it should!
That said, we are clearing the decks. Next week is very light on deals.
Read MoreRead more: Good times roll for IPOs: How long will the boom last?
Still, a pricing shakeout continues, which sets the stage for the 6 IPOs pricing tonight (what genius planned to have 12 IPOs in a week with Easter, Passover, and spring break?)