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Wunong Net Technology Company (WNW) aims to raise $37 million in an IPO of its ordinary shares, according to an F-1 registration statement. Shenzhen, China-based Wunong was founded to create a food marketplace website that sells agriculture products to a variety of end users such as consumers, restaurants, lodging facilities and others.
IPO Launch: Wunong Net Technology Aims For $37 Million U.S ...
www.thestreet.com/ipo/news/wunong-net-technology-ipo-launch
www.thestreet.com/ipo/news/wunong-net-technology-ipo-launch
IPO Candy
With the election results behind us (finally) the IPO market is getting back to work. There are a handful of deals in marketing as we start the week but this number is likely to expand rapidly as companies try and get out during the pre-Thanksgiving holiday window. There were also some recent filings including the "Russian Amazon", Ozon (OZON), which are likely to get our attention.
Another new development this week is a de-SPAC that is marketing a private placement as part of their business combination using the traditional IPO roadshow process. I wonder if we'll see more of this. The company is Finance of America which is the target of Replay Acquisition Corp (RPLA). The company is another player in residential mortgage but aims to provide a broader range of product types like reverse mortgages and "fix and flip" quasi-commercial loans in addition to regular mortgages. You can see their marketing deck on SPACvest: Finance of America.
Aeva is another technology company specializing in what they call "4D LiDAR" has announced their plans to come public via a SPAC, InterPrivate Acquisition (IPV). We now have Velodyne Lidar (VLDR) and Luminar (GMHI) in this group. The presentation is posted at both IPO Candy and SPACvest. Here's a link for it: InterPrivate proposed combination with Aeva.
THIS WEEK - This week we will see a handful of deals priced but the fireworks will probably begin next week with an eye to price by the 20th.
IN8Bio (INAB) is the larger deal on the calendar for this week but still it's only $75M in size with a $325M market cap. This is another T cell-based cancer therapy developer with two drugs in Phase 1 trials. Current range is $15-17 with Barclays leading.
Compass Therapeutics (CMPX) is similar in size and is also a cancer treatment although they are instead focused on regulating immune response in certain cancer patients. Current range is $5-6 with Citi and Credit Suisse leading.
There's a very small holdover deal, Inhibikase Therapeutics (IKT) that is still on the calendar and could price this week. It's only a $15M deal at a $140M market cap with ThinkEquity leading. They are targeting Parkinson's Disease and have a drug candidate that they expect to commence dosing as soon as the deal is complete. That suggests they are open to increasing the size of the deal while reducing the share price to get it done. Current range is $10-12.
There's also a SPAC on the calendar - Natural Order Acquisition (NOAC) is offering $200M to find a combination in "plant-based food and beverages." We're pretty happy with Tattooed Chef (TTCF) which came out of the FMCI SPAC. And of course Beyond Meat (BYND) remains the big leadership name in this group sporting a 25x P/S ratio and a $10B market value.
We're not planning to dig into these but expect to start working on the deals coming next week. We also have a few additional updates for the Model Portfolio that we missed when we did our update last week: Model Portfolio Changes November 2020.
FarFetch (FTCH) sure started out of the gate at a gallop thanks to a huge investment which is a signal that they are likely to remain in the leadership position when it comes to high fashion and e-commerce.
Let's hope we can all put our differences aside and work together to make things better for everybody.
source
Yep, that's what I saw
I show a bid/ask of $5/0 Doesn't look like it has traded since the symbol change in march.
Ahh, thanks, I just learned something
Charting services don't show it I guess because it's not quoted on an exchange, but brokerages (at least some) do show it.
For example HTHC pops up on E*Trade, but doesn't show a price. Maybe cuz it's after-hours?
I'll check again on the open. No intention of buying it fwiw, just messing around.
Thanks Ernie!
Huh, whatever happened to $HITM?
I see they're still publishing Reg A filings and annual-reports, but not listed on any exchange...
I wonder what their plans are, tho I don't actually wonder enough to contact the company...
High Times Magazine is transitioning from a company that writes articles and hosts events to a company that grows and sells cannabis. Let me walk you through exactly how to get shares of High Times before they even hit the stock market.
High Times Magazine is transitioning from a company that writes articles and hosts events to a company that grows and sells cannabis. Let me walk you through exactly how to get shares of High Times before they even hit the stock market.
New Cannabis IPO could happen tomorrow! Charlottes Web Inc CWEB on the CSE
Marijuana Stock Millionaire explains how he has positioned himself to buy these guys on the CSE despite being a US resident.
BE
Bloom Energy | Pending
Does anyone know a website with all OTCBB IPO´s of the last 12-24 months with pps of the first trading day?
Opus Bank Files Registration Statement for Proposed Initial Public Offering
March 13, 2014 7:00 AM ET
Opus Bank, which specializes in commercial, retail, merchant and correspondent banking, today announced that a registration statement on Form 10 has been filed with the Federal Deposit Insurance Corporation for the proposed listing of Opus Bank common stock in connection with a proposed initial public offering. The shares will be offered by Opus Bank and certain selling stockholders. Opus Bank has applied to list its common stock on The NASDAQ Global Select Market under the ticker symbol "OPB." The number of shares of common stock to be offered and the price range for the offering have not yet been determined.
J.P. Morgan, Credit Suisse, Sandler O’Neill + Partners, L.P., and Keefe, Bruyette & Woods will act as joint book-running managers.
Opus Bank is an FDIC insured California-chartered commercial bank with over $3.7 billion of total assets, $2.9 billion of total loans, and $2.7 billion in total deposits as of December 31, 2013.
The offering will be made only by means of an offering circular. The registration statement on Form 10, which includes the preliminary offering circular relating to the offering, is available at http://www2.fdic.gov/efr/login335.asp. The preliminary offering circular has not been approved by the California Commissioner of Department of Business Oversight and is subject to further revision and amendment.
A registration statement on Form 10 relating to these securities has been filed with the Federal Deposit Insurance Corporation, but has not yet become effective. These securities also may not be sold, nor offers to buy be accepted, prior to the time Opus Bank has obtained a permit for the sale of the securities from the California Commissioner of Department of Business Oversight. A permit for the sale of the securities has not yet been granted. This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. These securities are neither insured nor approved by the Federal Deposit Insurance Corporation, California Department of Business Oversight—Division of Financial Institutions or any other governmental agency.
About Opus Bank
Opus Bank provides high-value, relationship-based banking products, services and solutions to its clients comprised of small and mid-sized commercial business, entrepreneurs, real estate investors, professionals and consumers. Opus Bank offers a suite of treasury and cash management and depository solutions, and a wide range of loan products, including commercial and industrial, commercial real estate, multifamily residential, and is an SBA preferred lender. Opus Bank is an Equal Housing Lender. Opus Bank operates 60 banking offices, including two banking offices in the Phoenix metropolitan area of Arizona, 34 banking offices in California and 24 banking offices in the Seattle/Puget Sound region of Washington.
Opus Bank
Mr. Jeff L. Leonard
SVP, Dir. of Corporate Strategy/Communications
(949) 251-8146
Copyright 2014 Business Wire
http://money.msn.com/business-news/article.aspx?feed=BW&Date=20140313&ID=17431279
TetraLogic Announces Pricing of Initial Public Offering of Common Stock
Print
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TETRALOGIC PHARMACEUTICALS CORP (NASDAQ:TLOG)
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Today : Thursday 12 December 2013
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TetraLogic Pharmaceuticals Corporation (TetraLogic) today announced pricing of its initial public offering of 7,150,000 shares of its common stock at a public offering price of $7.00 per share, before underwriting discount and offering costs. All of the shares of common stock are being offered by TetraLogic. In addition, TetraLogic has granted the underwriters a 30-day option to purchase up to an additional 1,072,500 shares of common stock at the same price to cover over-allotments, if any. The shares are expected to begin trading on the NASDAQ Global Market on December 12, 2013 under the symbol "TLOG."
The offering is expected to close on December 17, 2013, subject to customary closing conditions.
Oppenheimer & Co. Inc., Guggenheim Securities, LLC and Needham & Company, LLC are acting as joint book-running managers for the offering.
TetraLogic intends to use the net proceeds of its initial public offering to advance the clinical and pre-clinical development of birinapant, other development programs, working capital and general corporate purposes.
TetraLogic has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to the common stock being sold in the offering. The registration statement was declared effective by the SEC on December 11, 2013. The offering is being made only by means of a prospectus, copies of which may be obtained from:
thanbks for the heads up.
will keep an eye on it
cheers
Biopharma Manufacturing Solutions IPO is finally out, this will be a huge player next year. http://www.nasdaq.com/markets/ipos/company/biopharma-manufacturing-solutions-inc-856791-71006
http://www.forbes.com/sites/tomiogeron/2012/10/12/workday-ipo-pops-72-on-open/
biggest play, people will remember when they bought this stock.
(hopefully for the better....:)
gl
http://www.forbes.com/sites/tomiogeron/2012/10/12/workday-ipo-pops-72-on-open/
biggest play, people will remember when they bought this stock.
(hopefully for the better....:)
gl
Keep an eye on "work day" iPo
Could be a steal with early entry
Along with yelp, and Carlyle group, is one of my favorites.
Recent partnership with google can really generate revenues to compete the giants like oracle.
Below is a Forbes article:
Workday, which provides software for human resources, payroll and financial management, has filed for an initial public stock offering of up to $400 million. The company was founded in 2005 by PeopleSoft founder Dave Duffield and venture capitalist Aneel Bhusri.
Revenue at the compnay increased from $25.2 million in 2009 to $134.4 million for the year ending January 31. Losses rosefrom $49.9 million to $79.6 million over the same period. As of July 31, 2012, Workday had an accumulated deficit of $329.5 million.
The IPO could be the biggest to hit the market since Facebook (FB) earlier this year.
(Carlyle group) CG: strong value $22--------> $26!
look for this to continue!
http://finance.fortune.cnn.com/2012/05/02/carlyle-group-prices-low-ipo/
gl
Keep an eye on "Square"
http://www.forbes.com/sites/davefeinleib/2012/08/08/why-this-company-may-be-next-years-biggest-ipo/
gl
Its an opportunity for many to pick there moments and entry.
Value is always dependant on entry.
http://moneymorning.com/2012/07/31/another-1-7-billion-reasons-to-avoid-facebook-stock/
July 31, 2012
By Diane Alter, Contributing Writer, Money Morning
As if there weren't enough factors to make Facebook (Nasdaq: FB) stock unattractive, there's a flood of free shares about to hit the market that could make it even harder to raise the share price.
In two weeks comes the first expiration of "lock-up" agreements, meaning certain investors barred from selling their shares will then be able to do so. Typically employees and big investors are required to hold shares for a certain time period after an IPO. This is done to reduce selling pressure and the chance of a mass exodus as soon as the stock starts trading.
But now some of those investors' shares will be freed up, and they want to cash in.
Nearly 1.7 billion shares of Facebook stock will enter the market over the next few months, starting in mid-August. That is more than four times the number of shares now floating on exchanges.
"It's like a train coming around the corner toward shareholders, so they better get out of the way, Francis Gaskins, president of research firm IPOdesktop.com, told the Los Angeles Times.
The first batch of 268 million shares will be freed up in mid-August, followed by 192 million more shares in mid-October, and a whopping 1.2 billion shares will be let loose in mid-November.
Granted, a slew of those shares will not be sold, but the fresh torrent of shares to be set free far outnumbers the 421.2 million shares Facebook sold in its fabled IPO.
"Certainly many shareholders will sell to diversify," Jay Ritter, an IPO expert at the University of Florida, shared with the LA Times. "If I was an employee of the company, and I had a lot of my paper wealth in Facebook stock and I was renting an apartment even though I was a millionaire on paper, I would sell some of my stock."
Investors who were considering Facebook may very well opt to stay on the sidelines over the next few months in anticipation of the deluge of new shares. That alone could hold Facebook shares from much, or any, upward momentum.
"Buying Facebook now is like trying to catch a falling knife. You don't want to have a piece of it," Josef Schuster, founder of IPO research firm IPOX Schuster in Chicago told the LA Times.
Michael Pachter of Wedbush Securities, who has been covering Facebook from the start, said the tone set from Facebook's rocky start as a public company makes this post-lockup period even more volatile.
"I think Facebook is going to be a mess until the lock-ups are done," Pachter told the LA Times. "Nobody trusts their shareholders, the insiders, the VCs and the way they behaved in the IPO-greedily."
Facebook Stock: Third Quarter and Beyond
Since its debut on May 18, Facebook shares are down some 38%. Valued at $100 billion when it went public, Facebook's valuation has been sliced in half.
Investors that stuck around for the second-quarter earnings report released July 26 after the close didn't hear much they liked. Shares were slapped 12% lower the following Friday to close at $23.70. Intraday, shares reached a then all-time low of $22.28.
Setting off the rash of selling and sending shares reeling downward were clear signals that the social networking giant continues to struggle to tap into a profitable revenue stream from the explosive mobile arena.
"Mobile is a huge opportunity for Facebook," claimed CEO Mark Zuckerberg during the company's earnings call. "Over the next five years, we expect 4 billion or 5 billion people to have smartphones. That's more than twice as many people that have computers today."
While Facebook acknowledged the growing trend in users accessing their Facebook accounts via mobile devices, the company did not detail how it plans to capitalize on the shift.
In addition, Facebook reported its slowest revenue growth in at least a year, costs and expenses that tripled, a slight defection of some users; and waning user activity in some segments. The company was also vague on future guidance.
Notably absent in the wake of the earnings report were any upgrades from the rich roster (33) of underwriters or other industry analysts.
Facebook stock was down more than 6% by 3 p.m. today, to new all-time lows below $22 a share.
Facebook itch:
what level is worth the risk, and possible gain if Facebook re-invents itself.
online payer system?
paypal?
social activist network?
time will tell, there is potential in this conglomerate, but at what satiable support level.
sit back and take a moment!
gl all
Facebook entry (FB):
Target------> $20.00 to $22.00
There is value, but personally not above.
GL
worth a read.
http://seekingalpha.com/article/320660-carlyle-group-ipo-is-the-juice-worth-the-squeeze-glencore-redux
Surely I am unlikely to be the only one to write a post warning those of you considering buying the Carlyle Group (CARL) IPO, however, instead of boring you with any sort of complex financial and other analysis, I’m going to keep it simple, real simple, as I did when I explained some risks associated when the possibly most evil company on the planet went public last year. For a slightly more complicated take on investing in PE/alternative asset manager IPOs, this post from The Epicurean Dealmaker is a very good starting point (and includes links to other similarly excellent writeups).
1. While we’re not totally comparing apples to apples here, I’d like to present the following chart of the performance of publicly traded alternative investment management firms, without further comment (if you don’t get the point, I really can’t help you, its that obvious):
(Click to enlarge)
Ok, I’m adding further comment. When people whose job is to buy low and sell high – and who have done a pretty damn good job doing it – are selling, why the hell would you be buying? Do you think you’re going to get a better return than they are? Best of luck!
(Click to enlarge)
2. Valuing some of Carlyle’s various investments its incredibly difficult, time consuming, and subject to much, oh, shall we say “educated guess work,” to put it nicely. Valuing the fund management company is even worse. This is even more the case given the way in which Carlyle is listing, not as a typical corporation, but as a fairly convoluted sort of – as a securities lawyer friend of mine commented – a “baby Limited Partnership,” as the NYT has so kindly (attempted to) explain for those lacking the time/expertise to read the full explanation in the registration statement. You’re basically giving them your money without getting any of the typical rights associated with so doing. Imagine not being able to sue a Doctor if he or she committed malpractice. Again, not apples to apples, but I think you get the gist of what I’m trying to get at.
3. Do you know every project/company in which Carlyle invests? While I’m no fan of “socially responsible investing,” some people who like to make their views held with their wallet might not want to own a public Carlyle. When your goal is to achieve tremendous investment returns, you don’t much care about the morality of an investment unless its actually a legal/regulatory/etc issue, and even then, those can sometimes be mitigated/hedged. If you own mutual funds or invest in stocks through your retirement/pension/endowment/etc funds, there’s a fair chance you’re going to end up owning a little bit of Carlyle, as managers inevitably try to buy (what’s perceived as) “best of breed” (which is another conversation for another time).
4. I haven’t even read more than a few pages of the S-1, let alone performed any real analysis, so for all I know maybe these (potential) reward outweighs these basic risks. Carlyle is one of the biggest, strongest PE firms in the world, something which is unlikely to change in the immediate future (although brain drain is certainly not impossible).
UPDATE 1-Carlyle Group may sell 10 pct stake in IPO
http://www.reuters.com/article/2012/04/03/carlyle-group-idUSL2E8F34O220120403
Tue Apr 3, 2012 12:34pm EDT
* Says existing owners may be left with 90 pct in one holding co.
* Such sale would be small compared to other private equity firm IPOs
By Greg Roumeliotis
April 3 (Reuters) - Private equity firm Carlyle Group LP, with about $147 billion in assets under management, may sell a 10 percent stake in its upcoming initial public offering, according to a regulatory filing published on Tuesday.
William Conway, Daniel D'Aniello and David Rubenstein, who founded Carlyle in 1987, have registered an IPO that is expected as early as April and have recruited 21 banks to help market it to investors.
The founders will not pocket any IPO cash directly. Instead, proceeds will be used to pay down debt and finance operational needs, acquisitions and new fund commitments, the filing said.
In the first indication of its intentions on the size of the sale, Carlyle said it assumed its existing owners would own about 90 percent of one of Carlyle's holding entities after the sale, which on a pro-rata basis would result in 10 percent of the overall holdings being sold.
The offering is for a nominal amount of $100 million, but that does not necessarily reflect the size of the sale or the firm's valuation. Were Carlyle to proceed with a 10 percent stake divestment, the sale would be proportionally smaller than those of its peers.
Blackstone Group LP raised about $7 billion by selling a 24 percent stake in its IPO in 2007, including a 9.9 percent stake to China's state investment company.
KKR & Co LP transferred its listing from Amsterdam to New York in 2010. About 30 percent of its shares were listed in New York.
"Carlyle is probably trying to use the small stake sale to test the waters, they may very well increase the size," said Scott Sweet, managing partner at IPO Boutique.
"Psychologically, it sounds better and seems as if they want to keep more control of the company. They're likely to do a multitude of secondary offerings after."
In 2007, Abu Dhabi state investment firm Mubadala bought a 7.5 percent stake in Carlyle for $1.35 billion. CalPERS, the California pension fund for public employees and one of private equity's largest investors, took a 5.5 percent stake in 2000.
Updated IPO calendar
http://ipoboutique.com/ipo-calendar.html
gl
outside of Linkedn, and yelp which i love.
I would def keep an eye on Carlyle group, and Resrtoration hardaware.
should be a good year, if things continue on the up!
gl
old article, but great read!
http://247wallst.com/2012/01/06/the-17-most-important-ipos-to-watch-in-2012/
The 17 Most Important IPOs To Watch In 2012
January 6, 2012 by Administrator
The initial public offering market in 2012 is likely to be much stronger than many anticipate. Despite the lingering uncertainty and the underperformance of many popular IPOs in 2011, this year may see some very exciting underwriting activity with more than 200 companies hoping to go public. 24/7 Wall St. has evaluated dozens of IPO candidates to find the Top 17 IPOs To Watch In 2012.
Facebook and its $100 billion valuation, although by far the largest on our list, is just one of many IPO potentials which will be in high demand. A new stock exchange, a host of online media outfits, a giant casino, big name retail, and private equity are all trying trying to have successful IPOs in 2012. You do not have to be an approved Second Market account holder or a venture capitalist to have a stake. Investors in 2012 can invest through business development outfits like GSV Capital Corporation (NASDAQ: GSVC), which owns shares of Facebook and Twitter, and Keating Capital, Inc. (NASDAQ: KIPO). These pre-IPO funds were not available ahead of many of the top 2011 IPOs. There is even the First Trust US IPO Index (NYSE: FPX) fund for investors looking at other investment strategies around IPO investing.
But other than those listed here, there are many other potential IPO candidates waiting in the wings. Among the private equity’s past giant leveraged buyouts are Univision and Clear Channel in media and TXU in power and electricity, which could all be potential IPO candidates if and when the market will accommodate them. Also, such companies as the fashion-deal site called Gilte Groupe, the “Angry Birds” video game maker Rovio, and others are also waiting in the wings with possible IPOs.
24/7 Wall St. has compiled a detailed review of each of the expected top IPOs for 2012. We have included details on the finances, backers, related entities, financial terms, the size of the IPO, and even the underwriting groups.
1. BATS Global Markets, which was founded in 2005, first filed to become a public company in May of 2011. The company, which started as an alternative to the NYSE for equities trading in Europe and the U.S. is now the third largest equity exchange in America and operates the second largest pan-European multilateral trading facility. As such, this IPO is is a key one for investors of exchanges and trading platforms. BATS plans to raise up to $100 million through the offering. More than 90% of the company’s revenues come from trading U.S. equities. These days it is also a primary listing venue, meaning it can conduct IPOs. The global operator of stock and options markets plans to list its shares on its own exchange rather than the NYSE under the ticker BATS. The offering will have a dual-class share structure and the bankers are listed as Morgan Stanley, Citigroup, and Credit Suisse.
2. Caesars Entertainment Corporation filed for its IPO in late 2011. This IPO is a holdover from the private equity buyout days when the company tried to go public but later retracted the offering. No exchange was specified nor was a ticker set in the filing. As of September 30, 2011, the company owned or operated 52 casinos in a dozen U.S. states and seven countries under the brand names of Caesars, Harrah’s and Horseshoe with a total gaming space of 3 million square feet and about 42,000 hotel rooms. Caesars Entertainment is what’s left of the massive $9.3 billion buyout by Apollo Global Management, LLC (NYSE: APO) and TPG in 2005. Sales in the first nine months of 2011 were more than $6.6 billion and operating income was was over $600 million, with a net loss after items of $467 million. Private equities and casino operators are paying close attention to this IPO. If the real size of the overall company is too large, perhaps the private equity firms may consider breaking the underlying companies up into separate offerings and utilize a ‘keiretsu’ approach under a network of companies.
Read Also: DJIA 2012 Gain of 12% Projected
3. The Carlyle Group, L.P. filed to raise up to $100 million in securities in September 2011. As one of the best known names in the world of private equity IPO be one to watch, for investors and other private equity companies. No ticker and no exchange were designated in the filing, but the company named J.P. Morgan, Citi, and Credit Suisse as the lead underwriters. With more than $150 billion in assets under management, this private equity giant is a key player in real assets, global market strategies, and now also in funds of funds after buying a 60% equity interest in AlpInvest. With several private equity companies already publicly traded, Carlyle has been an IPO candidate group for years.
4. Facebook is going to be the king of all IPOs of 2012. The double-question is when exactly will it go public and at what price? Facebook is a monster in social networking that has changed the world and the ways of communication. The company is supposedly going to release its financials in the second quarter to comply with regulatory standards over its number of shareholders. With Mark Zuckerberg aiming for a $100 billion valuation at the offering, Facebook could literally be valued at more than all of the top and important IPOs of 2012 combined. It was just over a year ago that many thought that $30 billion and $40 billion valuation was too high and the many private sales have since commanded a much higher valuation. The underwriting firms and the exchange it will list on are yet unknown, as is the share structure. Will it follow the LinkedIn Corporation (NYSE: LNKD) share structure? Facebook’s estimated $100 billion valuation is expected to come with a $10 billion stock sale. Alexa still ranks Google first in traffic measurement of all global websites, but Facebook is coming on strong in many online measuring metrics.
5. Glam Media is an online media and advertising network focused on targeting the female market. The company made the news late last year after reportedly speaking to investment banking firms like Goldman Sachs, Morgan Stanley, and BofA about going public, but the filing is not expected before mid-2012. Glam claims to have about 1,000 brand advertisers and sales of over $100 million. It acquired Ning as a custom social site design tool for somewhere in the $150 million area. Whether this will be a normal IPO with a single-class or a dual-class structure is not known and that depends largely on the performance of other recent media and social networking IPOs.
6. Gogo Inc., which filed right before Christmas of 2011, provides the in-flight connectivity, entertainment, as well as Internet for several large airlines, including Delta Air Lines, American Airlines, Virgin America, and US Airways. The filing was for up to $100 million, and the stock is set to trade under the ticker GOGO. Investors will have to hope that the performance of Boingo Wireless, Inc. (NASDAQ: WIFI) does not hurt Gogo’s IPO value. As of September 30, 2011, Gogo had equipped 1,177 commercial aircraft. Consolidated sales in the first nine months of 2011 grew 89% to $113.8 million. Lead underwriters included Morgan Stanley, J.P. Morgan, and UBS. Major holders are Ripplewood Holdings, Oakleigh Thorne, and AC Partners.
7. GrowOp Technology Ltd. has been an IPO-hopeful for quite some time. The company is the technology provider to much of the medical marijuana growing industry. So far, GrowOp has raised capital through Form D filings. We interviewed founder Derek Peterson in 2011 when an IPO was on track to occur. But the field of supplying growing lab equipment for the use of medical marijuana has undergone quite a bit of change in the last year, causing the company to put the 2011 IPO on hold. With some other companies having in the field having conducted reverse mergers or hoping to raise capital, GrowOp will be a company to watch.
Read Also: Best Big Biotech Stock Picks For 2012
8. Kayak Software has had many amended filings for its IPO of up to $50 million in common stock. It will have one of the dual-class structures and trade as KYAK on NASDAQ. Deutsche Bank is counted in the underwriting group. Kayak.com was started in 2004 by the co-founders of Expedia, Travelocity and Orbitz. It instantly compares hundreds of travel websites in one search. With so many users online looking for travel deals, and with a popular and straight forward business model, Kayak is going to be watched closely. While the acquisition of IATA by Google Inc. (NASDAQ: GOOG) may be a challenge for Kayak, past strength of Priceline.com Inc. (NASDAQ: PCLN) and other online travel sites is likely to keep investors’ interest high.
9. Living Social has not yet filed for a public offering but is one of the long-standing IPO candidates. It competes directly with Groupon, Inc. (NASDAQ: GRPN) and claims to be the fastest growing ongoing deals sites out there. The company’s financials are not public and revenue figures vary from source to source. Living Social has over 34 million U.S. members and over 46 million users globally, 603 daily deal markets worldwide in 25 countries, over 22 million vouchers bought by members worldwide, and more than 3,900 employees located throughout each market served. It has reportedly been trying to raise up to $400 million in December, with a projected market value of $6 billion at the time.
10. Platinum Energy Solutions, Inc. is not the largest of the pending oil and gas IPOs of 2012, but itis still relatively new and is focused on the controversial hydraulic fracturing sector in the domestic shale regions in America. The Houston-based outfit filed for an IPO of up to $300 million in common stock under the FRAC ticker on the NYSE at the very end of the third quarter in 2011, with Morgan Stanley and J.P. Morgan set to lead the offering. Platinum’s customers are Petrohawk in the Eagle Ford Shale, a major independent operator in Altamont Field in Utah, and Encana Corporation (NYSE: ECA) in the Haynesville Shale. With fracking so controversial and with most operations being so new, investors (and competitors) will be paying close attention to this IPO.
11. Restoration Hardware, a high-end furniture retail company, is yet another private equity buyout which filed in September 2011 to sell up to $150 million in common stock. It still has no proposed ticker nor a proposed exchange, but it used to trade as RSTO on NASDAQ. The private equity buyers were Catterton Management, Tower Three Partners, and Glenhill Capital. As of July 30, 2011, the retailer operated 87 stores and 10 outlet stores in the U.S. and Canada. In 2010, it sent out about 46.5 million catalogs and generated over 12.1 million unique visits on its website. In the first half of 2011, revenues rose 27% to $420.4 million over the first six months in 2010, and net income rose to $1.1 million from a net loss of $11.3 million. While not a major private equity buyout, the company listed BofA and Goldman Sachs as the lead underwriters, and many smaller private equity shops with a focus on retail and consumer spending will be paying close attention here.
12. Silver Spring Networks, Inc., which offers smart grid networking technology solutions, filed to sell up to $150 million. For those interested in the green or efficient energy sector, this IPO is the one to watch. The smart grid helps in advanced electricity metering, improved grid reliability, efficient energy management, and compliance with regulatory mandates. Morgan Stanley, Goldman Sachs, and Credit Suisse are the book-runners, but there are ten firms in total on the offering. SSN’s sales were $175.7 million in the first nine months of 2011 and the company is losing money. Rather than just selling “green” this outfit sells efficiency, and that is likely to make IPO watchers look at the opportunity several years out rather than backwards.
13. Smith Electric Vehicles Corp. filed in November 2011 to sell up to $125 million in common stock and it plans to list under the ticker SMTH on the NASDAQ. It also hired UBS and BofA as the lead underwriters. Smith design, produces and sells zero emission, medium-duty commercial electric vehicle trucks and vans with set routes of up to 120 miles. It is already selling to major commercial fleets in the U.S. and Europe. In the 12 months ending September 30, 2011 it had sold 320 vehicles. It recently noted an order backlog of 120 vehicles, and it has allocated nearly all of its estimated 540 production slots through July 2012 with written indications of interest from existing and potential customers for approximately 2,220 vehicles from 2012 to 2015. The company’s owners are Tanfield Group in the U.K. (almost 30%), Continental Casualty Company in Chicago (about 15.6%) and Potomac Energy Fund (about 7.2%).
14. Toys R Us was supposed to be one of the top IPOs of 2011, but it was delayed due to market conditions and likely due to lack of investors’ interest. The leading toy and children merchandise retailer in America was taken private in 2005 and is owned almost equally by affiliates of Bain Capital, KKR, and Vornado Realty Trust (NYSE: VNO). It seems investors are not willing to buy into old private equity buyouts where all of the funds go straight to the owners rather than the company. Many other private equity LBOs that are on the sidelines are eager to see how such a large buyout repackaged as an IPO fares. Although an established business, in the world of private equity it is one of the top IPOs to watch. The retailer had 11 underwriters in its most recent filing last year before it pushed back its IPO plans.
Read Also: The Top 17 IPOs of 2011
15. TransUnion, one of the leading consumer credit reporting and monitoring businesses, filed in July 2011 to sell up to $325 million in common stock under the ticker TRUN on the NYSE. On top of keeping credit scores so merchants can evaluate credit, TransUnion also runs and owns TrueCredit.com, a consumer credit protection mechanism. In today’s world, credit rating and credit monitoring may be more important than ever. With book-runners listed as BofA, J.P. Morgan, and Deutsche Bank, the filing listed nine underwriters in total. Founded in 1968, TransUnion now claims about 45,000 business customers in multiple industries. Sales were $956.5 in 2010 and $503.4 million in the first half of 2011 alone, while net income in the same periods was $36.6 million in 2010 and -$2.6 million in the first half of 2011 due to fees tied to debt extinguishment.
16. Twitter is another online phenomenon from which Wall Street is eagerly awaiting an IPO. But last year was too soon for the microblogging site to go public due to some top level management shuffles and lack of clarity in a real business model. The posting site is used by millions of people for anything from business, gossip to live news. In December, Kingdom Holdings’ majority owner Prince Alwaleed bin Talal bought a $300 million stake from insiders. It remains unclear when Twitter will file for an IPO. Some reports say it will be in 2012, while others project it will be “in the next couple of years.” This is likely an IPO story for later in 2012 as the company’s financial situation is not well known by the public.
17. Yelp, the online user-review business, formally filed for an offering in November 2011. It is going to have a dual-class A and B share structure similar to much of the 2011 Internet offerings. Its proposed ticker is YELP with no exchange selected. Book-runners are Goldman Sachs, Citigroup, and Jefferies. Yelp’s users have contributed over 22 million reviews of local businesses, including restaurants, boutiques and salons, dentists, mechanics, and plumbers. The company claims 61 million unique website visitors in its statistics. At the end of the last quarter on September 30, 2011, Yelp had about 19,000 active business accounts, up 75% from the prior year. Sales in the first nine months of 2011 were up 80% year-over-year to $58.4 million, but it turned in a net loss of $7.6 million for the same period. After so many rumored buyouts Yelp is going to be closely followed by many online companies and interested investors. Backers include Bessemer Ventures, Elevation Partners, and Benchmark Capital.
If you enjoyed the Top IPOs of the year, you can sign up in the box below to join our morning email list to receive news directly in your inbox. We also include major analyst upgrades and downgrades, special situation developments, observations on Warren Buffett and key market gurus, as well as special exclusive feature stories.
BATS IPO: CEO Ratterman should be fired.
http://online.wsj.com/article/SB10001424052702304177104577303904228769094.html
gl
IPO Calendar
Company Symbol proposed Lead Managers Shares (millions) Price Low Price High Est $ Volume Expected to Trade SCOOP Rating Rating Change
Annie’s BNNY Credit Suisse/ J.P. Morgan 5.0 19.00 19.00 $ 95.0 mil 3/28/2012
Priced S/O S/O
Regional Management RM Jefferies/ Stephens 4.2 15.00 15.00 $ 63.0 mil 3/28/2012
Priced S/O S/O
Vocera Communications VCRA J.P. Morgan/ Piper Jaffray 5.9 16.00 16.00 $ 93.6 mil 3/28/2012
Priced S/O S/O
CafePress CPRS J.P. Morgan/ Jefferies 4.5 16.00 18.00 $ 76.5 mil 3/29/2012
Thursday S/O S/O
Merrimack Pharmaceuticals MACK J.P. Morgan 14.3 7.00 7.00 $ 100.1 mil 3/29/2012
Thursday S/O S/O
Millennial Media MM Morgan Stanley/ Goldman, Sachs/ Barclays Capital 10.2 11.00 13.00 $ 122.4 mil 3/29/2012
Thursday S/O S/O
Rexnord RXN BofA Merrill Lynch/ Goldman, Sachs/ Credit Suisse/ Deutsche Bank Securities/ Barclays 23.7 18.00 20.00 $ 450.0 mil 3/29/2012
Thursday S/O S/O
Enphase Energy ENPH Morgan Stanley/ BofA Merrill Lynch/ Deutsche Bank Securities 7.3 10.00 12.00 $ 80.0 mil 3/30/2012
Friday S/O S/O
GasLog Ltd. GLOG Goldman, Sachs/ Citigroup/ J.P. Morgan/ UBS Investment Bank 23.5 16.00 18.00 $ 399.5 mil 3/30/2012
Friday S/O S/O
Luca Technologies LUCA Citigroup/ Piper Jaffray/ Raymond James 8.5 11.00 13.00 $ 102.0 mil 3/30/2012
Friday S/O S/O
Enerkem NRKM Goldman, Sachs/ Credit Suisse/ BMO Capital Markets 7.3 17.00 19.00 $ 130.5 mil 4/4/2012
Wednesday S/O S/O
Erickson Air-Crane EAC Stifel Nicolaus Weisel/Oppenheimer/ Lazard Capital Markets 5.4 13.00 15.00 $ 74.9 mil 4/4/2012
Wednesday S/O S/O
Retail Properties of America RPAI J.P. Morgan/ Citigroup/ Deutsche Bank Securities/ KeyBanc Capital Markets 31.8 10.00 12.00 $ 349.8 mil 4/5/2012
Thursday S/O S/O
BrightSource Energy BRSE Goldman, Sachs/ Citigroup/ Deutsche Bank Securities 6.9 21.00 23.00 $ 151.8 mil 4/12/2012
Thursday S/O S/O
great website
http://www.iposcoop.com/
gl
http://247wallst.com/2012/03/27/facebook-admits-yahoo-problem-in-filing/
Facebook filed a new document in its move toward its IPO. In that document, it admitted that Yahoo!’s (NASDAQ: YHOO) patent claims are a risk to its business. That means that Facebook’s $100 billion may be at risk. And, other companies, which could include AOL (NYSE: AOL), have begun the process of monitizing patents approved during the early years of the internet.
In the filing, Facebook said
From time to time, we receive notice letters from patent holders alleging that certain of our products and services infringe their patent rights. Some of these have resulted in litigation against us. For example, on March 12, 2012, Yahoo filed a lawsuit against us in the U.S. District Court for the Northern District of California that alleges that a number of our products infringe the claims of ten of Yahoo’s patents that Yahoo claims relate to “advertising,” “social networking,” “privacy,” “customization,” and “messaging.” Yahoo is seeking unspecified damages, a damage multiplier for alleged willful infringement, and an injunction. We have not yet filed an answer or asserted any counterclaims with respect to this complaint. We intend to vigorously defend this lawsuit. This litigation is still in its early stages and the final outcome, including our liability, if any, with respect to these claims, is uncertain. If an unfavorable outcome were to occur in this litigation, the impact could be material to our business, financial condition, or results of operations.
The Facebook IPO is probably only weeks away. The debate over the harm Yahoo!’s case could cause will accelerate. And, the estimates of the damages will begin almost immediately
Douglas A. McIntyre
Tags: AOL, YHOO
Posted in Law | Comments Off
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http://247wallst.com/2012/03/27/facebook-admits-yahoo-problem-in-filing/ printed on March 28, 2012
should be an interesting story the coming weeks.
gl
A performance review of IPOs over the past 90 days
http://www.triadsecurities.com/90_day_window.htm
New IPO Commerce Resources (v.cce)
http://www.commerceresources.com/s/NewsReleases.asp?ReportID=27431?id=0042
August 31, 2001
Trading Symbol: CCE – CDNX
Update on Tantalum Exploration at the Verity Property
As an update to the company’s current drill program (as announced August 15, 2001), Commerce Resources Corp. (CCE - CDNX) announces the completion of the first five (5) drill holes at the Verity-Paradise Carbonatite Complex.
All five holes intersected varying widths of the main carbonatite sill, as follows:
VDH-1: 20.72 to 71.90 (51.18 meters Carbonatite - Beforsite)
VDH-1: 90.50 to 100.30 (9.80 meters Carbonatite - Sovite)
VDH-2: 37.19 to 106.68 (69.49 meters Carbonatite - Beforsite)
VDH-2: 112.78 to 113.50 (0.72 meters Carbonatite - Sovite)
VDH-3: 23.77 to 44.50 (20.73 meters Carbonatite - Beforsite)
VDH-4: 52.73 to 79.55 (26.82 meters Carbonatite - Beforsite)
VDH-5: 6.10 to 25.30 (19.20 meters Carbonatite - Beforsite)
Holes 1 and 2 were infill holes within the main Verity deposit. Holes 3 and 4 were step-out holes to the east. Hole 5 was a step-out hole to the north.
Holes 1 through 4 were drilled at an orientation of about 030°/-60°, or approximately perpendicular to the known Verity Sill; hence, are approximately representative of true thickness. Hole 5 was a vertical hole near the subcrop edge; hence the interval shown is not true thickness.
All fieldwork is being completed under the supervision of Jeff Reeder, professional geologist. All samples are being analyzed by ICP-MS methods by Acme Analytical Laboratories for whole rock constituents, including: Niobium and Phosphate. In addition, Activation Laboratories Ltd. is analyzing all samples by INAA (Neutron Activation) for Tantalum. This process is expected to take approximately 3 - 4 weeks. The main carbonatite sill typically consists of both mineralized and non-mineralized material. Assay results will be disclosed in a timely manner.
About Commerce Resources Corp.
Commerce Resources Corp. is a mineral exploration and development company, which trades on the Canadian Venture Exchange under the symbol CCE. The company’s principal project is located near Blue River in central British Columbia, with target metals being tantalum and niobium. The company is actively exploring the project with the objective to further delineate the grade and tonnage of available tantalum, niobium and phosphate deposits within the property. The Verity-Paradise carbonatite complex, which is up to 70 m thick, has been traced intermittently along strike length of about 7,000 meters. The Fir Carbonatite, which is up to 75 m thick, is near flat-lying and has previously been traced along a strike length of about 400 m.
The company’s Verity property is host to an inferred mineral resource of 3.06 Mt containing 196 g/t Ta2O5, 646 g/t Nb2O5, and 3.20 % P2O5 (McCrea, 2001).
This Week's IPOs
http://www.marketreporter.com/commentary/commentary/ipo/002.html
Thanks,
Joe
This week's IPOs.
From TheStreet.com....
ALLIANCE DATA SYSTEMS
IPO: (ADS:NYSE) Provider of integrated information-based loyalty and marketing solutions focused primarily on business-to-consumer commerce.
Deal size: 13,000,000
Price range: 12.00 - 14.00
Led by: Bear Stearns
My take: 1/30/01 -- Shares reduced from 20 million to 13 million and price reduced from $14-$16 to $12-$14. (Consider the timing of these reductions and put them in the proper perspective.) This is a really serious deal, serious in the sense that what the company does is real and it does a lot of it. The company offers an incredible menu of services to large-scale retailers. Think of it as the back-office for names such as Victoria's Secret, Structure, The Limited and such (The Limited and its operating companies are Alliance's biggest customers, accounting for more than one-fourth of their 2000 revenues). And while we're talking about revenues, consider that ADS posted $687 million in revenues in 2000 and racked up over $180 million in the first quarter of this year.
Bottom-line numbers have been less impressive, but if you look at the last three years in the consolidated financials, you'll see an improving situation. Q1 was a positive number (just barely), but it looks like the company can get seriously in the black within the next two quarters. Deals like this are exciting for two reasons. One, the company tells a very compelling story of growth and near-term profitability. Second, aftermarket performance for an IPO like this is likely to be good. Why? The IPO comes at the seeming cusp of ADS turning a profit. If, when the next quarter comes to a close, the company posts big numbers, you've got yourself a winner. On the IPO I expect an OK pop. Confirmation comes if we see a price or size increase over the next few days.
TORCH OFFSHORE
IPO: (TORC:Nasdaq) Provider of subsea construction services in connection with the infield development of offshore oil and natural gas reservoirs.
Deal size: 5,000,000
Price range: 14.00 - 16.00
Led by: UBS Warburg Paine
My take: While oil and energy is still an important group in this IPO market, the whole theme is looking a bit shopworn. Torch had a couple of decent years and then stumbled on its numbers in 1999. 2000 was better, but the company still isn't out of the red. I suppose that a premium will come from this deal, but I'm not expecting much. There are better places to put your money this week.
TOURJETS AIRLINE
IPO: (TJET:Nasdaq) Intends to offer "Tourjets Non-Stop Vacations" packages.
Deal size: 6,250,000
Price range: 12.00
Led by: JW Korth
My take: Sorry, but I'm not wasting my breath on this one. The underwriter is a total unknown and the deal is not exactly giant in any department. I'm asking that you avoid this one. I think you'll thank me.
UNILAB
IPO: (ULB:NYSE) Independent clinical laboratory testing company in California and one of the largest in the nation.
Deal size: 6,700,000
Price range: 14.00 - 16.00
Led by: Salomon Smith Barney
My take: Mike loves this deal. He's been really good in the medical/ref lab space lately. It's a good growth story and the comps are on your side. We expect a good first-day pop. Looking forward, it has the potential to be a performer.
UNITED SURGICAL PARTNERS INTERNATIONAL
IPO: (USPI:Nasdaq) Owns and operates surgery centers and private surgical hospitals.
Deal size: 9,000,000
Price range: 13.00 - 15.00
Led by: Credit Suisse First Boston
My take: I have some reservations about this one and everyone I talk to shores up those feelings. The revenue picture is difficult to project forward, although the company has shown remarkable growth over the past couple of periods. Net losses are widening and I have a tough time with the thought that so much of the company's business is derived in foreign centers. The underwriters are certainly capable, but I just don't feel great about this one. Gosh, can't you just feel me teetering on the fence. I say small premium at best. If I'm wrong, well, so be it.
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