00:00Oversubscribed. So a lot of excitement tied to it. What exactly does this company do? This is a company in the blockchain home equity line of credit space. They have a stable coin. So they're really leaning into the crypto theme. When I spoke to the company CEO really kind of saying that in their view they're the first publicly listed company that really validates in their view the blockchain technology. So using a heel lock on the blockchain as opposed to some of these digital asset treasury companies or companies that are operating exchanges. Their kind of argument is that this is
00:29the future of blockchain and they're kind of emblematic of that. And it seems like at least based on the oversubscription numbers as you mentioned 25 times oversubscribed stock opening up 40 percent. There is a lot of excitement around it. There's a lot of excitement around Klarna yesterday which was also oversubscribed and jumped 15 percent by the end of trading. But today it's down about 3.4 percent. And tomorrow we get Gemini Space Station. So it's a big big week for IPOs overall. Big week for IPOs. As you mentioned these are three companies either in the crypto outright space or crypto
00:59adjacent. I know Klarna is not really a crypto company but it is a fintech company. So similar themes that we've been seeing play out. Bullish went public recently. They opened up 140 percent and are now up closer to 40 percent. So really fintech is in vogue. But as you mentioned we're going to get four deals that price tonight. So we're going to get a consumer company in Blackrock Coffee. We're going to get allegiance which is a private equity roll up kind of model. So a little bit of a broadening out of the IPO market tonight. So it'll be interesting to see how those deals maybe they're not as high profile.
01:29as Klarna or figure or as big but how those price and trade.
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