GOOG- Nice EOD Sell Off, Buy oppt- DealTime and Build a Bear
(who keeps buying 100 shares $0.15 above ask???)
TJ and AJ- I'll revisit that schedule from the IPO documentation. But they are still "B" shares !!
10Q from quarter will force that schedule to be updated. Don't be surprised if the shares avaialble to sell is increased....Bastages
DreamWorks, Shopping.com await
Animation studio, Internet firms and REITs crowd plate
By Steve Gelsi, CBS.MarketWatch.com
Last Update: 3:33 PM ET Oct. 25, 2004 [ Page 1 / 2 ]
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NEW YORK (CBS.MW) - DreamWorks Animation, Shopping.com as well as real-estate firms GMH Communities and Aames Investment are crowding the market for initial public offerings this week.
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Other deals on deck include ELong.com, a Chinese travel service, and craft firm Build-A-Bear Workshop.
"While we saw similar levels of activity during June and July, we cannot remember the last time there have been so many exciting deals in the span of one week," Renaissance Capital said in its IPO of the week column. See full story.
Overall, the IPO market remains receptive to companies with solid financials and track records, for the most part.
The real-estate sector continues to draw investor interest, as well as tech and Internet firms from China.
DreamWorks Animation
DreamWorks Animation tips the scale as the largest IPO of the week with expected proceeds of nearly $700 million.
The unit of DreamWorks SKG plans to offer 25 million shares at $23 to $25, via underwriters Goldman Sachs and J.P. Morgan. See full story.
Aames Investment steps up
Aames Investment Corp. (AIC: news, chart, profile) plans to offer 55.5 million shares at $9 to $11 each, in a bid to raise about $550 million in its IPO via Friedman Billings Ramsey.
Formed in February for the purpose of building and managing a portfolio of subprime-mortgage loans, Aames plans to deliver dividend yields and earnings growth for shareholders.
As part of its IPO, Aames Investment will acquire Aames Financial Corp., a 50-year-old mortgage lender operating under the name Aames Home Loan.
Aames Financial originated more than $5 billion of subprime residential mortgage loans in 2003, and $1.7 billion in the fourth quarter, making it the 9th largest retail subprime originator and the 13th largest wholesale subprime originator in the U.S., according to National Mortgage News, Aames cited in its IPO filing.
GMH Communities Trust on deck
GMH Communities (GCT: news, chart, profile) plans to offer 28.6 million shares at $13 to $15 to raise about $400 million via underwriters Banc of America Securities and Merrill Lynch.
The Newtown Square, Penn., company is a self-advised, self-managed, specialty housing company focused on providing housing to college and university students residing off-campus and to members of the U.S. military and their families.
Its predecessor company, GMH Associates, was founded in 1985 to acquire, develop and manage commercial and residential real estate, while focusing on student housing.
Since 1999, GMH Associates also has competed for military housing privatization projects.
In July, Vornado Realty Trust made a cash investment of about $100 million and committed to contribute up to an additional $62.2 million.
Digital Realty Trust IPO expected
Digital Realty Trust (DLR: news, chart, profile) plans to offer 20 million shares at $14 to $16 to raise about $300 million with underwriters Citigroup and Merrill Lynch. After the IPO, the Menlow Park, Calif., company plans to own 22 properties for technology companies in the U.S., and one in London, containing 5.6 million net rentable square feet. "Our operations and acquisition activities are focused on a limited number of markets where technology tenants are concentrated, including the Atlanta, Boston, Dallas, Denver, Los Angeles, Miami, New York, Phoenix, Sacramento, San Francisco and Silicon Valley metropolitan areas," the company said in its IPO filing.
North Star Realty IPO gets ready
North Star Realty Finance Corp. (NRF: news, chart, profile) plans to offer 20 million shares at $9 to $11 per share in a bid to raise about $200 million with underwriter Friedman Billings Ramsey. The New York real-estate investment trust is a commercial real-estate company that makes fixed income, structured finance and net lease investments in real-estate assets.
Calamos Asset Management on the calendar
Calamos Asset Management (CLMS: news, chart, profile) plans to offer 18 million shares at $15.50 to $17.50 in a bid to raise about $297 million through underwriters Citigroup and Merrill Lynch. The Naperville, Ill., mutual fund and money management company had about $32 billion in client assets as of June 30. "We apply a proprietary investment process centered on risk management across an expanding range of investment strategies within the equity, balanced, convertible, high yield and alternative asset classes," the company said in its IPO filing. "We target clients seeking superior risk-adjusted returns over the long term."
The company reported $57 million in net income and revenue of $140 million in the first six months of the year, company $24 million in net income and revenue of $64 million in the year-ago period. "Since former Air Force pilot John Calamos Sr. started up a specialized convertible bond shop in the late 70's, Calamos Asset Management has grown into a leading diversified investment manager," Renaissance Capital said. "More than 90 percent of its funds hold a four- or five-star rating from Morningstar."
Shopping.com ups price ahead of debut
Shopping.com (SHOP: news, chart, profile) on Monday upped the estimated price range for its initial public offering to $16 to $18 per share, up from $14 to $16 per share. The Brisbane, Calif. online comparison shopping specialist kept the size of the deal at 6.87 million shares in a bid to raise about $117 million with underwriters Goldman Sachs and CS First Boston. Shopping.com, which received about 38 percent of its 2003 revenue from the company's relationship with Google (GOOG: news, chart, profile), lists Bank of America, UBS Capital and American Online as shareholders. The IPO from Shopping.com marks its second attempt to go public. Back in 2000, it filed an IPO under the name DealTime. In 2003, it merged with Epinions.com.
Build-A-Bear Workshop in line for debut
Build-A-Bear Workshop (BBW: news, chart, profile) plans to offer 6.8 million shares at $16 to $18 to raise about $116 million via underwriters CS First Boston and Cititgroup. The St. Louis company operates 165 stores in 39 states with customers creating, personalizing and customizing their stuffed animals. In the six months ending July 3, the company reported $10.2 million in net income and revenue of $136 million, up from $1.9 million in net income and revenue of $93 million in the year-ago period. Maxine Clark, a former Payless ShoeSource president who joined the company since its inception in 1997, is selling about 627,000 shares in the IPO and another 421,000 shares in the over-allotment. Catterson Partners and Walnut Capital will sell about 4 million shares. All told, insiders will sell 5.3 million shares and the company will be offering 1.5 million shares in the IPO.
The IPO will follow on the heels of last week's successful kickoff of Celebrate Express (BDAY: news, chart, profile), which sells party goods and crafts.
FoxHollow Technologies IPO lines up
FoxHollow Technologies (FOXH: news, chart, profile) plans to offer 4.5 million shares at $12-$14, in a bid to raise about $59 million with underwriters J.P. Morgan and Piper Jaffray.
The Redwood City, Calif., company makes medical devices primarily for the treatment of peripheral artery disease.
The company reported a net loss of $15 million and revenue of $12.3 million in the first six months of the year vs. a loss of $6.1 million and revenue of $226,000 in the year-ago period.
ELong.com IPO backed by InterActive Corp.
ELong.com (LONG: news, chart, profile) plans to offer 4.6 million shares at $11.50 to $13.50 in a bid to raise about $59 million with underwriter Deutsche Bank Securities.
The online Chinese travel service has drawn backing from Barry Diller's e-commerce conglomerate InterActiveCorp (IACI: news, chart, profile), which will retain a 49.9 percent stake in the company after the IPO.
Mechel Steet to be first Russian IPO in 2 1/2 years
Mechel Steel (MTL: news, chart, profile) plans to offer its American depositary shares at $19 to $21.
The IPO will mark the first major deal from Russia on the New York Stock Exchange since Wimm Bill Dann Foods (WBD: news, chart, profile) about 2 1/2 years ago.
The expected pricing date is Thursday, according to a release from the Moscow-based company.
With 13.8 million shares, the proceeds are expected to be about $276 million.
UBS is underwriting the deal, along with JP Morgan and Morgan Stanley.
U.S. Shipping Partners LP to set sail
U.S. Shipping Partners LP (USS: news, chart, profile) plans to offer 6 million common units at $20.25 to $22.25 in a bid to raise about $128 million via underwriters Citigroup and Lehman Brothers.
The Edison, N.J. company operates eight tank vessels: six integrated tug barge units, and two specialty refined petroleum and chemical product, or parcel, tankers.
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