10/31/14


Reval Holdings, which provides treasury and risk management on-demand software, withdrew its plans for an initial public offering on Friday citing poor market conditions. The company originally filed for $75 million in March 2012 and last updated its filing in May 2012. The New York, NY-based company was founded in 1999 and booked $47 million in sales for the 12 months ended March 31, 2012. BofA Merrill Lynch and Stifel were set to be the joint bookrunners on the deal....more


Keywords: RVAL.RC

10/31/14


PolyPid, an early stage drug delivery biotech developing an antibiotic coating for bone repair, announced terms for its IPO on Friday. The Petach Tikva, Israel-based company plans to raise $20 million by offering 1.8 million shares at a price range of $10 to $12. At the midpoint of the proposed range, PolyPid would command a fully diluted market value of $107 million. PolyPid's two lead candidates, BonyPid-1000 and BonyPid-500, combat bacterial infection around implanted bone substitutes (for open bone fractures) and around dental implants by coating the bone substitute with an ...more


Keywords: PLPD

10/31/14


Cnova, a French and Brazilian e-commerce site spun out of retail giant Casino, announced terms for its IPO on Friday. The Bordeaux, France-based company plans to raise $355 million by offering 26.8 million shares at a price range of $12.50 to $14.00. At the midpoint of the proposed range, Cnova would command a market value of $5.8 billion. Its parent, Casino, is publicly traded on the Paris Stock Exchange ($9.3 billion market cap). Business Cnova was formed when Casino Guichard-Perrachon acquired Brazil's Nova Pontocom and consolidated its online retail subsidiaries. ...more


Keywords: CNV, BABA, AMZN

10/31/14


Virobay, an early-stage biotech with a drug platform for pain and autoimmune diseases, withdrew its plans for an initial public offering on Friday. The company originally planned to raise $50 million during the week of October 13.  Virobay's drug development platform is based on inhibiting cysteine cathepsins enzymes that are active in the biology of many diseases. Virobay has completed Phase 1 trials for treatments that target neuropathic pain, Crohn's disease, and psoriasis, all of which are expected to begin Phase 2 trials in 2015. It has partnered with LEO for its psoriasis ...more


Keywords: VBAY

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As stated in the Prospectus, the total annual operating expenses for the Fund was 3.48%. The Adviser has contractually agreed to keep net expenses from exceeding 2.50% of the Fund’s average daily net assets for at least a year from the date of the Prospectus and for an indefinite period thereafter subject to annual re-approval of the agreement by the Board of Trustees. An investor cannot invest directly in an index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.

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