It was a slow week in the IPO market, which, besides the usual February lull as companies update financial statements for year-end, should be expected in a week shortened by President's Day. As the IPO market remains almost completely flat, the media continues to focus on private funding and mergers and acquisitions. Just one company, Yangtze River Development (YERR  ), filed last week. Yangtze is constructing a port logistics facility in Wuhan, China. They filed on Thursday with the SEC to raise up to $50 million in a US initial public offering. The company is currently listed on the OTC Markets, but plans to begin trading on the NYSE. The New York, NY-based company was founded in 2009 and did not report operating revenue during the fiscal year ended December 31, 2015. Silver Run Acquisition (SRAQU  ), which filed initially in late January, filed an amended prospectus and set its pricing date to next Tuesday, February 23. The Houston, TX-based company plans to raise $400 million by offering 40 million shares at a price range of $10.

Last week, 81% of 2015 IPOs were trading below issue. That improved this week to 75% of 2015 offerings, one small improvement in an otherwise frosty IPO environment.

Update: Since there are no new issues to comment on this year we will update you on all of the 2015 IPO's. Two weeks ago 81% of all IPO's released in 2015 were trading below their initial offer price. This improved last week as now only 75% of those IPO's are still under water. The markets also had a nice week as the bulls attempt to save the sinking ship that is the S&P 500 and Nasdaq 100