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IPO Outlook: 
Healthcare Deals Lead IPO Week
Author: Yordanka Bahchevanska
123jump.com
Last Update: 1:07 PM EST October 31 2005


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The lead manager was ThinkEquity Partners, with Stanford Group acting as co-lead manager, for the offering.

Electro-Optical is a medical device company focused on the design and development of a non-invasive, point-of-care instrument to assist in the early diagnosis of melanoma.

The stock closed the first day and week at $7.71, up 54% from the offering.

Semiconductor developer MathStar (MATH) priced 4 million shares at $6, the low end of a $6-$8 filing range, on Thursday.

Feltl and Co. was the underwriter on the deal.

The Minnetonka, Minnesota-based company granted the underwriters a 45-day option to purchase up to 600,000 additional shares to cover over-allotment.

The shares were quoted on the Nasdaq and closed at $5.90, slightly down from the offering price, on the first day of trading,

MathStar designs, develops and markets a new class of semiconductor integrated circuit, or chip, it calls field programmable object arrays.

The company’s stock ended the week at $6.10, up 1.7% from the offering price.

Cogdell Spencer (CSA), a REIT investing in medical and health-care facilities, priced 5.8 million shares at $17 per share, raising $96.6 million, on Thursday lower than the initial filing range of $18-$20.

Banc of America Securities and Citigroup were underwriters on the deal.

The stock is listed on the New York Stock Exchange and closed the first day of trading flat at $17.

Cogdell Spencer owns, co-owns or manages 72 health-care offices in five Southeastern states.

The company’s stock ended the week at $17.05, slightly up from the offering price.

NCI Inc. (NCIT), which priced a week ago, but did not trade because of technical problems, began trading on Monday.

The stock closed at $12.17 on the first day of trading, 16% up from the offering price of $10.50 a share.

The company’s shares ended the week at $12.17, up 16% from the offering price.

DECLINERS

Drug developer Accentia Biopharmaceuticals (ABPI) priced 2.4 million shares at $8 per unit on Friday. The original filing had a price range of $11-$13, which was lowered to $10-$12, and finally to $8-$10.

Jefferies was the lead manager on the deal, while Ferris, Baker Watts, Stifel, Nicolaus & Co, and GunnAllen Financial acted as co-managers.
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