SORNU’s (NASDAQ:SORNU) Quiet Period To Expire on February 16th

SORNU’s (NASDAQ:SORNU) quiet period will end on Monday, February 16th. SORNU had issued 22,000,000 shares in its initial public offering on January 7th. The total size of the offering was $220,000,000 based on an initial share price of $10.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of SORNU to a “hold” rating in a research report on Thursday, January 15th.

SORNU Stock Down 0.1%

Shares of SORNU stock opened at $9.99 on Wednesday. SORNU has a 12 month low of $9.95 and a 12 month high of $10.01.