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IPO News

5/24/10 Analyst IPO Blog

The following IPOs are expected to price this week:

Film Department Holdings (TFDI), a recently formed independent movie production company, plans to raise $48 million by offering 8 million shares at $6 per share. At the mid-point of the proposed range, Film Department will command a market value of $90 million. Film Department, which was founded in 2007, booked $40 million in sales last year. The West Hollywood, CA-based company plans to list on the NASDAQ under the symbol TFDI. Merriman Curhan Ford and IPO Solutions are the lead underwriters on the deal.

GenMark Diagnostics (GNMK), which offers a molecular diagnostics testing system to hospitals and labs, plans to raise $41 million by offering 4.5 million shares at a price range of $8-$10. At the mid-point of the proposed range, GenMark Diagnostics will command a market value of $104.61 million. GenMark, which was founded in 2000, booked $1 million in sales last year. The Pasadena, CA-based company plans to list on the NASDAQ under the symbol GNMK. Piper Jaffray is the lead underwriter on the deal.

Mirion Technologies (MION), a private equity-backed provider of radiation detection systems, plans to raise $176 million by offering 11 million shares at a price range of $15-$17. At the mid-point of the proposed range, Mirion Technologies will command a market value of $354.84 million. Mirion, which was founded in 2005, booked $210 million in sales last year. The San Ramon, CA-based company plans to list on the NASDAQ under the symbol MION. Credit Suisse, BofA Merrill Lynch and J.P. Morgan are the lead underwriters on the deal.

Last week, there were 2 IPO pricings. ReachLocal (RLOC), which sells online marketing services for small businesses through a localized sales force, was the week's winner, ending up 17% from its IPO price.