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Infoblox Anticipates $12 to $14 IPO
April 10, 2012 By Daniel Van West Leave a Comment
Infoblox Inc, a maker of network automation hardware and software, states that its IPO of 7.5 million shares will price in the $12 to $14 range.
In its SEC filing, Infoblox says it would sell approximately 5.7 million shares in the offering, with the remaining shares providing by certain current stockholders.
Should Infoblox make the top of its anticipated range, the company will reach a market valuation of approximately $616 million.
The company intends to list its stock on the NYSE under the ticker symbol ‘BLOX.’
Morgan Stanley and Goldman Sachs are lead underwriters for the offering, while additional underwriters include Pacific Crest Securities, UBS Investment Bank, JMP Securities and Stephens Inc.
Cash America Amends Enova IPO
April 9, 2012 By Daniel Van West Leave a Comment
Cash America International, Inc. (NYSE: CSH) today announced that its wholly-owned subsidiary, Enova International, Inc. (“Enova”), amended its Form S-1 registration statement with the SEC.
The statement was originally filed in September 2011. Cash America and Enova had intended to sell shares of Enova common stock in an IPO, dependent upon market conditions. Cash America planned at that time to divest itself of majority ownership of Enova. The amendment filed today states that only Enova itself plans to sell shares of its stock. Cash America anticipates retaining approximately 80% ownership in Enova.
Enova provides various financial products and services online to under-served consumers in the U.S., Canada, the U.K., and Australia. Enova plans to sell its stock on the NYSE under the ticker symbol “ENVA.”
Splunk IPO Expected at $8 to $10
April 9, 2012 By Daniel Van West Leave a Comment
Splunk Inc, maker of data collection and indexing software, anticipates that its IPO of 13.5 million shares will be priced at $8 and $10 per share. The business will provide about 12.5 million of the shares while selling stockholders will provide the remainder, according to a filing with the SEC. The company would have a valuation of approximately $925.3 million if it prices at high end of the anticipated range.
Though Splunk yet to post a full-year profit, the company’s revenue has almost doubled each year for the last five years.
Private equity companies August Capital, Sevin Rosen, and Ignition Partners are backing Splunk. The company plans to trade on the Nasdaq under the ticker symbol SPLK. Credit Suisse, J.P.Morgan, Morgan Stanley and BofA Merrill Lynch will be lead underwriters for the IPO.
TCP Capital Corp. Prices IPO
April 4, 2012 By Daniel Van West Leave a Comment
TCP Capital Corp. today announced its IPO of 5,750,000 common stock shares will be priced at $14.75 a share. Underwriters were given a 30-day option to buy as many as 862,500 more shares to cover any overallotments. TCP Capital’s stock is scheduled to start trading today on the NASDAQ Global Select Market with the ticker symbol “TCPC.”
TCPC plans to use the net proceeds from this IPO to repay debts under its revolving credit facility, investment that supports its objectives, pay operating expenses, and other general business purposes.
Stifel, Nicolaus & Company and Deutsche Bank Securities Inc. are joint book-running managers for the IPO. Oppenheimer & Co. Inc. is the lead manager.
Millennial Media Closes IPO
April 4, 2012 By Daniel Van West Leave a Comment
Millennial Media, Inc. today announced the closing of its IPO of 10,200,000 common stock shares priced at $13.00 each. 9.2 million shares were sold by Millennial Media and selling stockholders sold 1 million shares. The total IPO size was 11,730,000 shares after underwriters exercised their option to buy 873,270 additional shares from Millennial Media and 656,730 shares from selling stockholders.
Goldman Sachs, Morgan Stanley, and Barclays Capital were joint bookrunners for the IPO. Allen & Company and Stifel Nicolaus Weisel were co-managers.
Groupon Inc. Sued by Investor
April 3, 2012 By Daniel Van West Leave a Comment
Groupon Inc, the world’s biggest coupon website, is facing a lawsuit filed by a shareholder today. Four days ago, Groupon revised its 4th quarter financial results citing “material weaknesses” in its inner processes, primarily underestimating customer refunds.
The lawsuit claims Groupon overstated revenue, reported misleading and false financials, was deceptive about growth and vulnerability to competitors, and failed to reveal that it doesn’t comply with laws in certain other countries. The suit, filed in federal court in Chicago, aims for class-action status on behalf of investors who bought Groupon stock from November 4, 2011 to March 30, 2012. Similar lawsuits are being considered by other legal firms.
Groupon stock has fallen nearly 25% in value since its IPO.
In addition to Groupon Inc., the suit also names Groupon CEO Andrew Mason as a defendant, as well as several financial institutions involved in the IPO, including underwriters Goldman Sachs, Credit Suisse, and Morgan Stanley.
Layoffs at Second Market
March 30, 2012 By Daniel Van West Leave a Comment
SecondMarket Inc., a marketplace for trading private company stocks, fired 10 percent of its workforce today in advance of Facebook’s expected IPO. SecondMarket’s final auction of Facebook stock is set for April 3. In February, Facebook announced plans for an IPO estimated at $5 billion. In an emailed announcement, SecondMarket explicitly cited “a post-Facebook world” as one reason for the layoffs. The company previously had 150 employees, and said it has plans for hires in other areas.
Enphase Prices IPO
March 30, 2012 By Daniel Van West Leave a Comment
Enphase Energy, Inc., (NASDAQ:ENPH) announced yesterday the pricing of its IPO. 8,969,697 common stock shares will be offered at $6 per. Enphase is providing all shares in the offering. Enphase has also given a 30-day option to underwriters to buy up to 1,345,454 additional shares in the event of over-allotments. The shares are scheduled to begin trading today on NASDAQ Global Market with the ticker symbol “ENPH.”
BofA Merrill Lynch, Morgan Stanley & Co. LLC, and Deutsche Bank Securities Inc. are joint book-running managers. Jefferies & Company, Inc. is the joint lead manager, while ThinkEquity LLC and Lazard Capital Markets LLC are co-managers.
