AirSculpt Technologies Inc (AIRS) -- Channel checks just completed, are currently revealing, according to guidance that the IPO remains oversubscribed. The range and size of this offering has been drastically reduced as previously stated. The current price guidance is pointing to the low-end of the revised $11-$12 range. Given the restructuring of this deal in the eleventh hour and the underperformance of price sensitive IPOs in recent weeks, we feel it is prudent to downgrade the rating on this IPO from a '3' to a '2'. Rating = 2.
