Thirteen initial public offerings have been priced so far in 2008, as of 15th January.

IPO PERFORMANCE

Shares of MAKO Surgical Corp. (MAKO) fell almost 10% on Thursday, their first day of trading, after the company priced its initial public offering of 5.1 million shares at $10 per share. All of the shares were offered by the company.

The company raised about $51 million with the offering.

Mako cut the expected price range of the IPO of 5.1 million shares to between $10 and $11 per share prior the offering. The company originally filed to price between $14 and $16 per share.

J.P. Morgan and Morgan Stanley were the lead managers for the offering, and Cowen & Co and Wachovia Capital were acting as co-lead managers for the offering.

The underwriters have been granted a 30-day option to buy up to 765,000 additional shares to cover over-allotments.

Mako makes robotic devices and implants for minimally invasive orthopedic knee procedures.

The shares ended the week at $9.72 a share, down 2.8% from the offering price.

ArcSight, Inc. (ARST) priced its initial public offering of 6.9 million shares of common stock at $9 per share.

The company sold 6 million shares and the remaining 861,919 shares were offered by certain selling stockholders.

Morgan Stanley was acting as lead manager, supported by Lehman Brothers, Wachovia Capital and RBC Capital.

The underwriters have been granted a 30-day option to buy up to 1 million additional shares to cover any over-allotments.

The shares ended the week at $8.66 a share, down 3.8% from the offering price.

IPO CALENDAR – week of February 18th

Global Alternative Asset Management ((GLE.U)) plans to offer 15 million units at $10, in a bid to raise $150 million. EarlyBird Capital will be the lead underwriter on the deal.

China Resources Ltd. ((CRX.U)) plans to offer 4 million shares at $10 per share, in a bid to raise $40 million. Maxim Group and Broadband Capital will underwrite the offering.