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IPO Outlook: 
Technical Companies Soar in Debut
Author: Yordanka Bahchevanska
123jump.com
Last Update: 1:07 PM EST November 13 2005


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The IPO market has yet to reach its normal speed this fall after a busy summer. The market is still suffering due to damages done by the hurricanes, soaring fuel prices and the scandal surrounding Refco. Five companies postponed their IPO plans - four of them are scheduled to be priced the coming week, while Passave postponed its offering for indefinite time.

 
The company’s stock ended the week at $19.01, down 2.5% from the offering price.

The blank check company Cold Spring Capital Inc. (CDS: chart) priced 20 million units at $6 on Friday. Each unit contains one share of common stock and two warrants to purchase a common share at $5.

Deutsche Bank Securities acted as a lead manager for the IPO.

In addition, Cold Spring has granted the underwriters a 30-day option to purchase up to 3 million additional units to cover excess demand.

Cold Spring is a """"""""blank check company"""""""" based in New Canaan, Connecticut, that will acquire operating businesses, portfolios of financial assets and real estate assets.

The company’s units closed the first day and week at $5.90, down 1.7% from the offering price.

IPO CALENDAR – week of November 14th

Semiconductor company Vimicro (VIMC: chart) plans to offer 8.7 million American depositary shares within a price range of $11-$13 a share, in a bid to raise $104.4 million. Morgan Stanley, Merrill Lynch, Needham & Co. and Piper Jaffray are slated as the lead managers on the deal.

Online security provider IntraLinks (ILNX: chart) intends to offer 4.0 million shares within a price range of $14-$16 a share, in a bid to raise $60 million. Stockholders plan to sell 1.3 million shares on the IPO. J.P. Morgan and UBS Investment Bank will be the lead underwriters on the deal.

Solar power product designer SunPower (SPWR: chart) plans to offer 7.7 million shares within a price range of $12-$14 per unit, in a bid to raise $100 million. CS First Boston and Lehman Brothers will lead the underwriters on the deal.

Chip designer Actions Semiconductor (ACTS: chart) plans to offer 13 million American depositary shares, including 4.3 million by selling shareholders, within a price range of $9.50-$11.50 per share. CS First Boston, CIBC World Markets and WR Hambrecht will be the managers on the deal.

Workers compensation insurer Amerisafe (AMSF: chart) intends to offer 8.0 million shares within a price range of $9-$11 a share, in a bid to raise $80 million. Friedman Billings heads the list of underwriters on the deal.

Specialty retailer Dover Saddlery (DOVR: chart) plans to offer 2.5 million shares within a price range of $12-$16 per share, in a bid to raise $32.5 million. Insiders plan to sell 1.3 million shares on the offering. WR Hambrecht will manage the deal using a Dutch auction style.

Sports apparel retailer Under Armour (UARM: chart) plans to offer 12 million shares, including 2.5 million by selling stockholders, within a price range of $7.50-$9.50 a share. CIBC World Markets and Wachovia Securities will be the lead managers on the deal.

Security software provider Global Secure Corp. (GSEC: chart) plans to offer 8.25 million shares at $6.50 a share, in a bid to raise $53.6 million. The company lowered its proposed price range of $8-$10 per share on Thursday. The original price range at filing was $9-$11 per share. Insiders plan to sell 695,000 shares. Morgan Keegan and Jefferies will be the lead managers on the deal.

IntercontinentalExchange (ICE: chart) plans to offer 10 million shares within a price range of $18-$20 a share, in a bid to raise 190 million. Insiders plan to sell 7.5 million shares. Morgan Stanley and Goldman Sachs will be the lead underwriters on the deal.

DealerTrack Holdings (TRAK: chart) plans to offer 10.0 million shares within a price range of $14-$16 a share, in a bid to raise 150 million. J.P. Morgan will be the lead manager on the deal.

JK Acquisition Corp. (JKA: chart) plans to offer 10.0 million shares at a price of $6 a share, in a bid to raise 60 million. Ferris, Baker Watts will underwrite the deal.
  1  2  3 More: IPO Outlook Archive

 



 
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