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IPO Outlook: 
DexCom priced within range; Jorgensen cut range
Author: Albena Toncheva
123jump.com



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There have been 53 pricings so far in 2005. Only 7 IPOs have priced in April. A total of 66 initial public offerings have filed but have not been priced yet. There have been 13 filings so far in April, 2005

 
After cutting the estimated price of its initial public offering, metal products distributor Earle M. Jorgensen Co. (JOR: chart) on Friday raised $176 million as it priced 17.6 million shares at $10 each.

The company had been expected to raise more than $300 million earlier April.

On Thursday the company announced that it planned to sell 20 million shares at a price range of $11-$13 each, down from its previously projected price range of $14-$16 per share.

Credit Suisse First Boston and Goldman Sachs & Co. are underwriting the IPO.

San Diego, California-based DexCom, Inc. (DXCM: chart) priced its IPO of 4,700,000 shares of common stock at $12.00 per share which was within the projected price range between $12 to $14 each. The medical device maker is selling all of the shares in the offering.

Piper Jaffray & Co. is the sole book-running manager for the offering. SG Cowen & Co., LLC is the co-lead manager. William Blair & Company, L.L.C. and First Albany Capital Inc. are co-managers.

PRB Gas Transportation Inc. (PRB: chart) owner and operator of intrastate natural gas gathering systems in the Rocky Mountain area priced 2 million shares at $5.50 per share.

Gilford Securities Inc. was the lead underwriter on the offering.

IPOs scheduled to debut the week of April 18

Evansville, Indianapolis-based vehicle components manufacturer and supplier Accuride Corp. (ACW: chart) plans to offer 250 million shares in the price range $17-19 a share.

The deal is managed by CitgroupDeutsche Bank Securities/UBS Financial.

The insurer National Atlantic Holdings (NAHC: chart) plans to sell 99.75 million shares, priced between $14-16 each, in a bid to raise $122 million.

The lead underwriter of the deal is Citigroup.
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