Silver Run Acquisition Corp. Trading Slightly Above Issue Price In Rare IPO

By Caitlin HustonMarketWatch Pulse

Silver Run Acquisition Corporation , the year's biggest initial public offering in terms of dollars raised, was trading just above its issue price of $10 in its debut on the Nasadaq Wednesday. The company is a special purpose acquisition entity, with no assets of its own, that plans to use the proceeds to buy oil and gas assets. The company sold 45 million units to raise $450 million. Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and Goldman Sachs & Co. underwrote the offering. So far this year, there have only been four other IPOs, according to market intelligence firm Ipreo. In 2015, there were 22 as of Tuesday.

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