If you price it that high above range, there is hot demand. That means there was some good institutional backing to buy blocks of that stock.
This is my favorite stock of the day. They have a good underwriting team and B2B is one of the busiest buzzwords.
It won't have a big first day run because it's a large deal. But it is a good company with good fundamentals.
You had a lot of foreign deals come to the United States because the valuations on the Nasdaq are pretty good right now.
It represents a solid deal in an industry that's rapidly emerging. More importantly, it sets the pace for other good deals that are going to come out.