The following
IPOs are expected to price this week:
Alimera Sciences (
ALIM), which is developing an injectable implant to treat eye diseases, plans to raise $96 million by offering 6 million shares at a price range of $15-$17. At the mid-point of the proposed range, Alimera will command a market value of $522 million. Alimera, which was founded in 2003, has yet to generate product revenue. The Alpharetta, GA-based company plans to list on the NASDAQ under the symbol ALIM. Credit Suisse and Citi are the lead underwriters on the deal.
Codexis (
CDXS), a Shell-oil backed developer of biocatalysts for biofuel and pharma applications, plans to raise $84 million by offering 6 million shares at a price range of $13-$15. At the mid-point of the proposed range, Codexis will command a market value of $546 million. Codexis, which was founded in 2002, booked $83 million in sales last year. The Redwood City, CA-based company plans to list on the NASDAQ under the symbol CDXS. Credit Suisse is the lead underwriter on the deal.
DynaVox (
DVOX), which provides speech generating devices to assist people with disabilities, plans to raise $150 million by offering 9.4 million shares at a price range of $15-$17. At the mid-point of the proposed range, DynaVox will command a market value of $474 million. DynaVox, which was founded in 1983, booked $105 million in sales last year. The Pittsburgh, PA-based company plans to list on the NASDAQ under the symbol DVOX. Piper Jaffray and Jefferies & Co. are the lead underwriters on the deal.
Excel Trust (
EXL), a self-managed retail REIT targeting value-oriented community properties, plans to raise $255 million by offering 15 million shares at a price range of $16-$18. At the mid-point of the proposed range, Excel Trust will command a market value of $271 million. Excel Trust, which was founded in 2009, booked $5 million in sales last year. The San Diego, CA-based company plans to list on the NYSE under the symbol EXL. Morgan Stanley, Barclays Capital and UBS Investment Bank are the lead underwriters on the deal.
Film Department Holdings (
TFDI), a recently formed independent movie production company, plans to raise $60 million by offering 6.5 million shares at a price range of $12-$14. At the mid-point of the proposed range, Film Department Holdings will command a market value of $136 million. Film Department Holdings, 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.
Global Geophysical Services (
GGS), a provider of seismic data services to oil and gas exploration companies, plans to raise $184 million by offering 11.5 million t a price range of $15-$17. At the mid-point of the proposed range, Global Geophysical Services will command a market value of $574 million. Global Geophysical Services, which was founded in 2003, booked $313 million in sales last year. The Missouri City, TX-based company plans to list on the NYSE under the symbol GGS. Credit Suisse and Barclays Capital are the lead underwriters on the deal.
Mitel Networks (
MITL), which provides IP-based telephony systems to small and medium sized enterprises, plans to raise $200 million by offering 10.5 million shares at a price range of $18-$20. At the mid-point of the proposed range, Mitel Networks will command a market value of $952 million. Mitel Networks, which was founded in 1972, booked $655 million in sales last year. The Ontario-based company plans to list on the NASDAQ under the symbol MITL. BofA Merrill Lynch, J.P. Morgan and UBS Investment Bank are the lead underwriters on the deal.
SPS Commerce (
SPSC), which provides on-demand supply chain management software, plans to raise $40 million by offering 3.3 million shares at a price range of $11-$13. At the mid-point of the proposed range, SPS Commerce will command a market value of $145 million. SPS Commerce, which was founded in 1987, booked $38 million in sales last year. The Minneapolis, MN-based company plans to list on the NASDAQ under the symbol SPSC. Thomas Weisel Partners is the lead underwriter on the deal.
Last week, there was 1
IPO pricing. Chatham Lodging Trust (
CLDT), a newly formed REIT focused on upscale extended-stay and select-service hotels, ended up 3% from its IPO price.