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Second-Busiest IPO Week This Year Shows Mixed Performance
The companies that traded today were Archipelago Learning (ARCL), 7 Days Group (SVN), Global Defense Technologies (GTEC), and Cloud Peak Energy (CLD), spanning a wide range of industries from education to energy. Archipelago Learning, an online education company, and 7 Days Group, the third largest economy hotel in China, posted respective first day gains of 13.8% and 13.6%. Attractive margins seemed to appeal to investors in the case of Archipelago's offering, while an aggressive growth strategy and China's expanding economy were the main drivers for 7 Days.
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IPO: Busiest Day in Two Months
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More Interest in Smallcaps, Now that Largecaps Viewed as Riskier?
A few days ago I tweeted a question about whether a theory that less expensive stock trading contributed to fewer IPOs holds water. The theory is that cheaper trading results in less revenue to fund analyst coverage of companies hoping to go public in the $50 million – $100 million range. In the '90s, a relatively small number of such companies — big names today — created hundreds of thousands of new jobs after going public, so there is certainly precedent that doing so can be a very good thing. Tonight, after reading a post by Miles Jenning (publisher of Ownership View) in the LinkedIn XBRL Interactive Network, I had a thought. (The topic of Miles’ post was a law professor’s blog on the use of technology to address the crisis. It's worth the read.) Before the current financial crisis, investors could look at history and see that “safe” investing in larger, more stable, less risky companies gave them pretty decent returns over time. This was particularly true in light of the disparity between NYSE and Nasdaq performance as a result of the dot com boom.
Paul Wilkinson submits:
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AOL Heads Toward Its IPO, Asks for 2,500 Voluntary Resignations
By Robin Wauters
TechCrunch submits:
AOL CEO Tim Armstrong Thursday informed staff that the company will be looking for 2,500 people to voluntarily hand in their resignations, which would represent about one third of the company’s payroll.
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Cloud Peak IPO Piques Our Interest
Cloud Peak Energy (CLD) is an IPO spin off from Rio Tinto (RTP) that has huge potential. By all accounts, the deal will be cheap as evidently RTP needs the cash. The deal is expected to price in the $16-18 range giving it a7 PE multiple. Very odd considering the PE multiples in the 20s that most coal producers trade at currently. CLD is completely focused on the Power River Basin (PRB) area in Wyoming and Montana. The surfice coal in the PRB is much easier to mine then the mountaintop mines in the East and especially in Central Appalachia. Also, the coal is 'cleaner' then the East because of lower sulfur amounts. Now honestly just about every other energy option is 'cleaner' then coal such as natural gas, solar, and wind. Unfortunately coal is the cheapest option and the US along with emerging economies like China and India are somewhat stuck using it so demand is expected to grow.
Stone Fox Capital submits:
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Investing in Homeland Security: Global Defense Technology & Systems IPO
Global Defense Technology & Systems (GTEC), a provider of IT and engineering services to US defense and intelligence agencies, is expected to price its IPO this week. Business Overview (from prospectus)
Abbi Adest submits:
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Archipelago's IPO Valuation Favors K12
Providence Equity Partners bought the company in January 2007 for approximately $85 million and owns 77 percent. Founded in 2000, the company had sales of $42 Million over the past 12 months. Earnings for the nine months ended September 30 were $6.9 Million while the net profit for the prior year was $1 million. ARCL has been growing their student enrollment and has recently entered the high school market. Their business is basically internet based test preparation.
William Kabourek submits:
Archipelago (ARCL) goes public on Thursday. The company intends to raise $100 Million, with shares coming approximately one-half from the company and the remainder from selling private equity companies. At the mid point of the anticipated offering ARCL will be valued at $400 Million.
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Archipelago Learning Hopes to Ace IPO
Archipelago Learning (ARCL), which runs a subscription-based online education platform for students K-12, is expected to price its IPO this week. Business Overview (from prospectus)
Abbi Adest submits:
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Fortinet: Fortifying the Network
Traditionally, enterprises have employed a variety of point solutions, such as firewalls and virtual private networks, to combat network security threats. With the increasing complexity of threats and importance of network performance, however, the need for a more integrated, easy-to-manage solution has given rise to the market for unified threat management (UTM) systems, which incorporate multiple security features (firewall, intrusion prevention, antivirus) into a single box. Fortinet (FTNT) was founded by the same duo that started NetScreen Technologies, which was acquired by Juniper (JNPR) in 2004 for $4 billion. Fortinet has used a proprietary solution to secure a leading 15% share in the UTM market, a segment of IT security spending that is expected to reach $3.5 billion by 2012 (22% CAGR). The company plans to offer 12.5 million shares, including 6.7 million from insiders, at a price range $9-$11. Morgan Stanley, J.P. Morgan and Deutsche Bank are acting as lead managers and the deal is expected to price Tuesday, November 17 and list on the NASDAQ the following day under the ticker FTNT'
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China's 7 Days Group IPO Expected This Week
7 Days Group (SVN), the third largest economy hotel chain in China, is expected to price its IPO this week. The company hopes its mix of high quality accomodations and proprietary techonology like its eCommerce platform will win over investors. Business Overview (from prospectus)
Abbi Adest submits:
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Cloud Peak Energy Hopes Investors Will Warm to IPO
Cloud Peak Energy (CLD), a carve-out of Rio Tinto (RTP) and the third largest coal producer in the U.S., is expected to go public this week. Reuters reports that "analysts cautioned that demand for the offering could be tepid. The IPO is priced at a premium compared with competitors." Business Overview (from prospectus)
Abbi Adest submits:
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Can HealthPort IPO Repeat Emdeon's Success?
HealthPort (HPRT), a provider of outsourced medical records release services to hospitals and clinics, is expected to go public this week. Tom Taulli at Blogging Stocks reports that "HealthPort is the largest ROI [release of information] provider, with a market share of 20%. And it's a healthy market." Business Overview (from prospectus)
Abbi Adest submits:
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Grant Thorton Study and the Death of the Small IPO
The Economist has an article, High-speed slide, which discusses a recent study by Grant Thornton about the disappearance of the initial public offering (IPO) market in the U.S., and, in particular, the death of the small IPO. In the October 2009 study, Market structure is causing the IPO crisis, authors David Weild and Edward Kim argue that the recent paucity of U.S. IPOs is a result of the “market structure” failing the IPO, rather than a cyclical downturn. That may seem unlikely at first blush, but the data are compelling: The first six months of 2009 represents the worst IPO market in 40 years. Given that the size of the U.S. economy, in real GDP terms, is over 3x what it was 40 years ago, this is a remarkable and frightening state of affairs. Only 12 companies went public in the United States in the first half of 2009, and only eight of them were U.S. companies. The trend that disfavors small IPOs and small companies has continued. The median IPO in the first half of 2009 was $135 million in size. This contrasts to 20 years ago when it was common for Wall Street to do $10 million IPOs and have them succeed.
Greenbackd submits:
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Fortinet: Will Investors Feel Secure About IPO?
Fortinet (FTNT), a provider of network security appliances to enterprises and service providers, expects to float its IPO this week. Jim Cramer thinks that the IPO is priced “much lower than what I think this stock is worth based on the fundamentals". Business Overview (from prospectus)
Abbi Adest submits:
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Six IPOs Scheduled for Week of Nov. 16
There are six companies spread across a wide range of industries expected to start trading this week. 7 Days Group Holdings, which converts and operates limited service economy hotels across major metropolitan areas in China, plans to raise $101 million by offering 10.1 million shares at a price range of $9.00 to $11.00. At the mid-point of the proposed range, 7 Days Group Holdings will command a market value of $493.6 million. The leading hotel chain, which was founded in 2004, booked $106 million in sales over the last 12 months and has grown from 5 hotels toward the end of 2005 to 283 hotels currently in operation. 7 Days plans to list on the NYSE under the symbol SVN. J.P. Morgan, Citi, and Oppenheimer & Co. are the lead underwriters on the deal.
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Cleaning House Before Its IPO Will Cost AOL $200 Million and Up to 1,000 Jobs
As AOL prepares to spin off from Time Warner (TWX) in an IPO, it wants to gussy itself up so that it looks as appealing as possible to public investors. Thursday, AOL disclosed that it plans yet another restructuring which could cost as much as $200 million. The biggest cost savings from any restructuring is usually through layoffs, and the latest round has already started at AOL, with 100 let go this week and as many as 1,000 of its 6,000 jobs at risk of being eliminated.
Erick Schonfeld submits: 
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Vitamin Shoppe Adds to a Successful IPO
One of the more successful IPOs over the past few weeks has come from Vitamin Shoppe Inc. (VSI). The stock was offered to investors at $17.00 and began trading on October 28. Underwriters included JPMorgan Chase (JPM), Bank of America (BAC) / Merrill Lynch, and Barclays Plc. (BCS). The stock traded sharply higher out of the gate, closing its first day of trading at $17.95 which was good for a 5.6% initial return. Since the IPO, investors have gained more confidence in the stock, pushing it as high as $21.39 during the day on Tuesday. That’s a potential 26% increase over the IPO price. It’s encouraging to see additional strength in the open market for a growth opportunity in its early days of trading. The positive movement points to liquidity which continues to show up in pockets of the market despite the economic uncertainty.
Zachary Scheidt submits:
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Value Fashion Retailer rue21 to Debut IPO This Week
Rue21 (RUE), a specialty teen apparel retailer with 500 stores in 43 states, is expected to go public this week. According to Renaissance Capital: After emerging from bankruptcy in 2002 with a new management team, the firm has doubled its store base in the last three years and has averaged 8% same-store sales growth over the last five quarters.
Abbi Adest submits:
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The Evolving IPO Market
There is a new Grant Thornton report out arguing that the U.S. is suffering from an IPO drought caused by high-frequency trading and broken market microstructure (but not SarbOx). The alleged consequences? 22-million fewer jobs in the U.S. than would otherwise be the case. Whoa. That's a provocative claim, but does it hold up?
Paul Kedrosky submits:
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IPO Analysis: Hyatt's Balance Sheet Is in Much Better Shape than the Competition's
Bill Simpson wrote an analysis of Hyatt Hotels (H) to TradingIPOs subscribers on November 1. In their debut Thursday, November 5, shares priced at $25, within the expected range. The text of Mr. Simpson's original writeup follows:
Bill Simpson submits:
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IPO Analysis from Seeking Alpha
'IPO Analysis' Tag RSS Syndication from SeekingAlpha.com
IPO market is stuck in neutral
The IPO market hasn't exactly been running at full throttle this year. And lately, it can't seem to get out of first gear.
JPMorgan Chase makes $1B-plus on Visa IPO
Thanks to its stake in Visa's initial public offering this week, JPMorgan Chase & Co. has enough money to pay for its Bear Stearns purchase and still have about a billion dollars left over.
Visa prepares for near-$19B IPO
Read full story for latest details.
Here come the hot IPOs of '08
Just because the U.S. economy might be looking at a recession, doesn't mean a few good tech IPOs can't light up the market. While no company is fully immune to economic retraction, he most promising technology companies have the advantage of a global marketplace in which to sell their wares. So if U.S. markets hit the skids, companies can always focus their efforts on Asian or European customers.
Venture capital at 6-year high - report
Read full story for latest details.
India's Reliance eyes record $3B IPO
Read full story for latest details.
Classmates.com cancels IPO
Read full story for latest details.
Companies skittish about going public
As financial markets go, so go initial public offerings.
A dunce cap for Classmates.com
Investors will have to wait a little while longer for the first pure-play social networking initial public offering in the United States.
Chinese firm shelves IPO, takes buyout
CGEN's larger competitor Focus Media announced it was buying CGEN in a deal that could ultimately wind up being worth $350 million.
Citadel's risky play in E*Trade
Citadel has made its reputation through shrewd, well-timed investments. But is its $2.55 billion infusion into E*Trade a wise move for it - and for shareholders?
'Tis the season for hot IPOs
Classmates.com and CGEN Digital Media Company Limited could hit the public markets in December filed updates about their upcoming IPOs.
Fortune's 2007 investment scorecard
We had our share of winners and losers, including a solar power play that shined, an IPO that soared, and a mortgage insurer that tanked.
Meet the PayPal mafia
An inside look at the hyperintelligent, superconnected pack of serial entrepreneurs who left the payment service and are turning Silicon Valley upside down. Fortune's Jeffrey O'Brien reports.
Blackstone skids on quarterly loss
Stock tumbles 6% after IPO charges hit private equity firm's bottom line; management sees opportunities in weak mortgage market.
Google or Yahoo?
Which web giant best nurtures its upstart acquisitions?
PetroChina begins planning $9B IPO
Read full story for latest details.
Akela Pharma plans IPO
Read full story for latest details.
Bioheart cuts IPO price range in half
Read full story for latest details.
Virgin Mobile stock debuts at $15 per share
Read full story for latest details.
IPO news - CNNMoney.com
From CNN and Money magazine, CNNMoney.com combines business news and in-depth market analysis with practical advice and answers to personal finance questions.
Gartmore to cut debt with £250m IPO
The asset management group says the offering will cut net debt to £150m. Managers are expected to sell up to 20% of their shares
Fresh setback for Asian IPOs
A high-profile Chinese fund has cancelled a proposed investment in Hong Kong's largest initial public offering of 2009 in a sign of waning appetite for Asian listings
Minsheng raises $3.9bn from Hong Kong IPO
China Minsheng Banking Corp will raise at least $3.9bn with its Hong Kong initial public offering – but without the support of a high-profile Chinese private equity fund
Merlin hopes to conjure IPO magic
Merlin Entertainment's chief executive knows that if the theme park operator behind the London Eye is to achieve his goal of a £2bn initial public offering he must overcome public market suspicions of private equity
Sands IPO aims to resurrect Macao ambitions
Las Vegas Sands' $3.35bn Hong Kong initial public offering caps a remarkable comeback for Sheldon Adelson, the self-made billionaire chairman
Maxis set to raise $3.3bn in IPO
Malaysia's leading mobile phone operator is set to raise $3.3bn in the country's largest initial public offering and the biggest in south east Asia since 1992
Minsheng plans $4.7bn IPO
The bank aims to raise up to $4.68bn with Hong Kong's largest initial public offering this year, a move that should solidify China's dominant position in the global IPO market
TPG's IPO exit is echo of buy-out glory days
TPG is set to complete one of private equity's most successful Asian deals on Monday when Australian department store Myer debuts in Sydney with a market value of A$2.4bn
Merlin theme park group eyes listing
Merlin Entertainments, the Blackstone-owned theme park group whose assets include Madame Tussauds, Legoland, and the London Eye, is preparing a stock market flotation, setting the stage for a flurry of UK listings in the new year
Reliance Life eyes India listing
Reliance Life, controlled by billionaire businessman Anil Ambani, is aiming to break even in its next fiscal year and make a profit the year after as the group seeks to become the first life insurer to list in India
Telecoms IPO raises $71m in Bangladesh
The initial public offering this week of Bangladesh's biggest telecommunications company has been heralded as the long-awaited coming-of-age of the Dhaka Stock Exchange
Santander raises $7bn in Brazil IPO
Santander has raised $7bn from the listing of its Brazilian subsidiary in the world's largest initial public offering this year
Aviva prepares to sell Delta Lloyd stake
Aviva was set to launch a listing of its Dutch subsidiary, Delta Lloyd, in which it hopes to raise about £1bn before the end of the year, the biggest IPO in Europe for at least 18 months
S Korea pursues IPOs as markets pick up
South Korean companies are returning for new equity listings as the market opens up after a two-year hiatus caused by the global financial crisis
Healthy appetite for recapitalisation issues
Global issuance hit $197.3bn, with much of the supply driven by emerging markets, in particular China, with the surge set to continue as companies globally deleverage after years of debt-fuelled expansion
FT.com - IPOs
FT.com - IPOs
Cossette Provides an Update on its Review of Cosmos' Amended Offer - Setting the Facts Straight
KOS (TSX)
TRW Completes $259 Million 3.50% Exchangeable Senior Notes Offering Including Full Exercise of Underwriters' Over-Allotment Option
LIVONIA, Mich., Nov. 20 /PRNewswire-FirstCall/ -- TRW Automotive Holdings Corp. (NYSE: TRW) (the "Company") today announced its wholly-owned subsidiary, TRW Automotive Inc. ("TAI"), has completed its previously announced private offering of 3.50% exchangeable senior notes due 2015 (the "Notes"). The Company also announced that the underwriters fully exercised their option to purchase additional notes to cover over-allotments, resulting in a total sale of $259 million in aggregate principal amount of Notes.
James River Coal Company Closes $172.50 Million Convertible Senior Notes Offering
RICHMOND, Va., Nov. 20 /PRNewswire-FirstCall/ -- James River Coal Company (Nasdaq: JRCC), announced today the closing of its previously disclosed offering of $150 million principal amount of 4.50% convertible senior notes due 2015 (the "Notes"), and an additional $22.50 million principal amount of Notes in connection with the exercise by the initial purchasers of their over-allotment option on November 17, 2009. The Notes were sold in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
Novavax Prices Public Offering of Common Stock
ROCKVILLE, Md., Nov. 20 /PRNewswire-FirstCall/ -- Novavax, Inc. (Nasdaq: NVAX) today announced that it has priced an underwritten public offering of 6,800,000 shares of its common stock at a price to the public of $3.30 per share. The approximately $21 million of net proceeds, after deducting the underwriting discounts and commissions, will be used for preclinical studies and clinical trials of our VLP-based vaccines, internal research and development programs, working capital, capital expenditures and other general corporate purposes. The offering is expected to close on or about November 25, 2009, subject to the satisfaction of customary closing conditions.
7 Days Group Holdings Limited Announces Pricing of Initial Public Offering of its American Depositary Shares
GUANGZHOU, China, Nov. 20 /PRNewswire-Asia-FirstCall/ -- 7 Days Group
Holdings Limited ("7 Days Group" or the "Company") (NYSE: SVN), a leading
economy hotel chain based in China, announced today that its initial public
offering of 10,100,000 American Depositary Shares ("ADSs"), each representing
three ordinary shares, was priced at an initial offering price of US$11.00 per
ADS. All of the 10,100,000 ADSs sold in this offering were sold by 7 Days
Group. The gross proceeds from the sale of the ADSs are approximately
US$111.1 million. The ADSs are expected to begin trading on November 20, 2009
on The New York Stock Exchange under the symbol "SVN."
Winthrop Realty Trust Announces Preliminary Results Of Its Rights Offering
BOSTON, Nov. 20 /PRNewswire-FirstCall/ -- Winthrop Realty Trust (NYSE: FUR) announced today the preliminary results of its rights offering to existing shareholders for the sale of its common shares of beneficial interest. Subscriptions, including rights exercised through notice of guaranteed delivery, were received for at least 4,453,069 shares including shares issuable pursuant to oversubscription rights, resulting in gross proceeds of not less than $40.3 million. Over-subscribing shareholders will be allocated all of the shares for which they over-subscribed.
Novavax Announces Public Offering of Common Stock
ROCKVILLE, Md., Nov. 20 /PRNewswire-FirstCall/ -- Novavax, Inc. (Nasdaq: NVAX) today announced that it intends to offer shares of its common stock in an underwritten public offering. Piper Jaffray & Co. and Lazard Capital Markets LLC are acting as joint book running managers.
GLOBAL Defense Technology Announces Pricing of Initial Public Offering of Its Common Stock
MCLEAN, Va., Nov. 20 /PRNewswire-FirstCall/ -- Global Defense Technology & Systems, Inc. (GLOBAL Defense Technology, Nasdaq: GTEC), a leading provider of defense technologies to the national security community, announced today that it has priced its initial public offering of 4.6 million shares of common stock at $13.00 per share, of which 3.0 million shares are being sold by the Company and 1.6 million shares are being sold by certain selling stockholders. The underwriters have a 30-day option to purchase up to an additional 690,000 shares of common stock from one of the selling stockholders at the initial public offering price. The offering is expected to close on or about November 25, 2009.
HF Financial Corp. Announces Pricing of Common Stock Offering
SIOUX FALLS, S.D., Nov. 20 /PRNewswire-FirstCall/ -- HF Financial Corp. (Nasdaq: HFFC) today announced the pricing of an underwritten public offering of 2.5 million shares of its common stock at a public offering price of $8.00 per share, for gross proceeds of $20 million. The net proceeds of the offering after deducting underwriting discounts and commissions and estimated offering expenses are approximately $17.939 million.
GSI Group Finalizes Agreement With Noteholders to Significantly Reduce Its Debt
BEDFORD, Mass., Nov. 20 /PRNewswire-FirstCall/ -- GSI Group Inc. (GSIG.PK) today announced that it has finalized an agreement with a majority of its noteholders on a restructuring plan that will enable the Company to significantly reduce its outstanding debt, enhance liquidity and position the Company for future growth.
BioCryst Announces Pricing of Public Offering of Common Stock
BIRMINGHAM, Ala., Nov. 19 /PRNewswire-FirstCall/ -- BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) today announced the pricing of a public offering of 5,000,000 shares of its common stock at $9.75 per share, resulting in gross proceeds of $48.75 million. All of the shares are being offered by BioCryst pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission. BioCryst has also granted the underwriters a 30-day option to purchase up to an aggregate of 750,000 additional shares of common stock to cover over-allotments, if any. Morgan Stanley is acting as the sole book-runner for the offering, with JMP Securities and Oppenheimer & Co. acting as co-managers. The offering is expected to close on November 25, 2009.
Warner Chilcott Prices Secondary Equity Offering
ARDEE, Ireland, Nov. 19 /PRNewswire/ -- Warner Chilcott plc (Nasdaq: WCRX) today announced the pricing of its previously announced secondary offering of 20,000,000 of its ordinary shares at a price to the public of $22.25 per share. The selling shareholders include funds affiliated with Bain Capital Partners, DLJ Merchant Banking, J.P. Morgan Partners (advised by CCMP Capital) and Thomas H. Lee Partners, L.P., certain other institutional investors and members of the Company's senior management. The selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 3,000,000 shares at the secondary offering price. The offering is being conducted as a public offering pursuant to an effective shelf registration statement under the Securities Act of 1933. The offering is expected to close on November 25, 2009.
TNP Strategic Retail Trust Meets Minimum Offering Amount, Acquires Its First Property, Enters Into Revolving Credit Facility
IRVINE, Calif., Nov. 19 /PRNewswire/ -- TNP Strategic Retail Trust, Inc. (the "Company") announced that as of November 12, 2009, it had raised the minimum offering amount of $2,000,000 in shares of common stock in its initial public offering.
Spherix Announces the Closing of $6.3 Million Registered Direct Offering
BETHESDA, Md., Nov. 19 /PRNewswire-FirstCall/ -- Spherix Incorporated (Nasdaq: SPEX), an innovator in biotechnology for diabetes therapy, and a provider of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies, announced today it closed the previously reported $6.3 million registered direct placement to institutional investors of 2,760,870 shares of its common stock and warrants to purchase up to 1,104,348 additional shares of its common stock. Each unit, consisting of one share of common stock and a warrant to purchase 0.40 of a share of common stock, was sold for a purchase price of $2.30 per unit. The warrants have an exercise price of $3.25 per share and are exercisable at any time after the closing of the transaction and before the 5th anniversary of such initial issuance date. Net proceeds, after deducting placement agent fees and other offering expenses, will be approximately $6 million.
Great Basin Gold Announces Closing of C$126.5 Million Bought Deal Public Offering of Convertible Debentures
VANCOUVER, Nov. 19 /PRNewswire-FirstCall/ - Great Basin Gold Ltd. ("Great Basin Gold" or the "Company"), (TSX: GBG; NYSE Amex: GBG; JSE: GBG) announces that it has closed its previously announced bought deal offering of senior unsecured convertible debentures (the "Debentures") with a syndicate of underwriters (the "Offering"). The underwriters have exercised their over-allotment option resulting in aggregate gross proceeds of C$126.5 million.
Comverge Announces Pricing of Underwritten Offering of Common Stock
EAST HANOVER, N.J., Nov. 19 /PRNewswire-FirstCall/ -- Comverge, Inc. (Nasdaq: COMV), a leading provider of comprehensive smart grid, demand management, and energy efficiency solutions, announced today the pricing of an underwritten offering of 2.4 million shares of common stock at $10.50 per share. Comverge has also granted the underwriters the option to purchase up to 360,000 additional shares of common stock to cover over-allotments, if any. Comverge intends to use the net proceeds from this offering of approximately $23.5 million (and the net proceeds from any exercise of the underwriters' option to purchase additional shares of common stock) to repay outstanding indebtedness, finance the capital requirements of its current and future contracts, as well as research and development, and for other general corporate purposes.
DCP Midstream Partners Announces Pricing of Public Offering of Common Units
DENVER, Nov. 19 /PRNewswire-FirstCall/ -- DCP Midstream Partners, LP (NYSE: DPM) (the "Partnership") today announced that it has priced an underwritten public offering of 2,500,000 common units representing limited partner interests at $25.40 per common unit. The offering is expected to close on Nov. 24, 2009. The Partnership also granted the underwriters a 30-day option to purchase up to 375,000 additional common units to cover any over-allotments, if any.
QKL Stores Inc. Announces Pricing of Public Offering of 6 Million Shares of Common Stock
DAQING, China, Nov. 19 /PRNewswire-Asia/ -- QKL Stores Inc. (the "Company")
(Nasdaq: QKLS), a leading regional supermarket chain in Northeast China, today
announced that its public offering of 6 million shares of common stock was
priced at $5.75 per share.
Cascades Tenderco Inc. Upsizes and Amends Pricing and Other Terms of Its Previously Announced Tender Offer
KINGSEY FALLS, QC, Nov. 19 /PRNewswire-FirstCall/ - Cascades Inc. (CAS on the Toronto Stock Exchange), a leader in recovery and in green packaging and tissue paper products, announced today that its newly formed wholly owned subsidiary, Cascades Tenderco Inc., has upsized, and amended certain pricing and other terms of, its previously announced Tender Offer for Cascades' 7 1/4% Senior Notes due 2013 (the "7 1/4% Notes") and 6 3/4% Senior Notes due 2013 (the "6 3/4% Notes" and, together with the 7 1/4% Notes, the "Notes").
Cascades Prices Offering of US$500 Million and Cdn$200 Million of Senior Notes
KINGSEY FALLS, QC, Nov. 19 /PRNewswire-FirstCall/ - Cascades Inc. (CAS on the Toronto Stock Exchange) announced today that it has priced its private placement of US$500 million aggregate principal amount of 7 3/4% senior notes due 2017 and Cdn$200 million aggregate principal amount of 7 3/4% senior notes due 2016 (collectively, the "Notes"). The Company had previously announced its intent to issue an aggregate principal amount of US$300 million of US$ Note and Cdn$150 of Cdn$ Notes. The US$ Notes will be issued at a price of 98.534% of their principal amount and the Cdn$ Notes will be issue at a price of 98.670% of their principal amount.
Stock Offering
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