 | | Ben Holmes has the market covered: | Sundays:
This Week in IPOs
Tuesdays:
This Week's Secondaries
Wednesdays:
Upcoming Lockup Expirations
Fridays:
The Quiet Period
| | | | |
We're looking at another week packed with full of IPOs -- 18 of them, to be specific. This week, there is a little something for everyone, from a profitable tech company and a financial services firm with good potential to a wireless, a pharmaceutical, a biotech, a B2B and a Linux play, not to mention some software deals worth a second look. Let's look at the week ahead: |
| ACLARA BIOSCIENCES | | IPO: | (ACLA:Nasdaq) | Microfluidics company with access to technology and intellectual property required to address the genomics and pharmaceutical drug screening markets | | Deal size: | 9 million | | Price range: | 13 - 15 | | Led by: | Deutsche Banc Alex. Brown | | My take: Strategic partnerships with PE Biosystems (PEB Quote) and Packard BioScience. Very cool technology and strong underwriters. I like this deal. |
| BLAZE SOFTWARE | | IPO: | (BLZE:Nasdaq) | Provider of infrastructure software that enables companies to provide their customers, employees, partners and suppliers with adaptable and personalized interactions | | Deal size: | 4 million | | Price range: | 12 - 14 | | Led by: | Robertson Stephens | | My take: Blaze customers include Prudential, Fidelity Investments and Sun Microsystems (SUNW Quote). Strong revenue growth and a great sector to be in. |
| BREEZECOM | | IPO: | (BRZE:Nasdaq) | Developer and manufacturer of wireless access products used worldwide by service providers and private enterprises | | Deal size: | 4.5 million | | Price range: | 15 - 17 | | Led by: | CIBC World Markets | | My take: Non-Edgar filing. Still waiting to get a prospectus on this deal. |
| CALDERA SYSTEMS | | IPO: | (CALD:Nasdaq) | Enables the development, deployment and management of Linux specialized servers and Internet access devices that simplify computing | | Deal size: | 5 million | | Price range: | 10 - 12 | | Led by: | Robertson Stephens | | My take: March 16: Price increase from 7 - 9. This is not another Red Hat (RHAT Quote), but I expect a strong performance. It depends entirely on the company's ability to develop cool tools and apps that will set it apart from the crowd. |
| EMACHINES | | IPO: | (EEEE:Nasdaq) | Provider of low-price, high-quality branded personal computers | | Deal size: | 20 million | | Price range: | 8 - 10 | | Led by: | Credit Suisse First Boston | | My take: TriGem, idealab! and America Online (AOL Quote) are major shareholders. Monster revenue but no profits. This deal is good for a decent premium. |
| EPRISE | | IPO: | (EPRS:Nasdaq) | Provider of software products and services that enable businesses to manage the information contained on their Web sites | | Deal size: | 4 million | | Price range: | 8 - 10 | | Led by: | Deutsche Banc Alex. Brown | | My take: Software company with great partnerships. Shareholders include Prism Venture Partners and Alliance Technology Ventures. Nice! |
| ETINUUM INC | | IPO: | (ETIN:Nasdaq) | Provider of an integrated set of strategic, technological, operational and analytical solutions for e-commerce and other direct-to-customer sales and marketing initiatives | | Deal size: | 4.5 million | | Price range: | 10 - 12 | | Led by: | Chase H&Q | | My take: Major clients include American Express (AXP Quote), Safeway (SWY Quote), Sega and Sony (SNE Quote). A strong group of underwriters and solid revenue growth. I expect a few-point premium at least. |
| HANARO TELECOM | | IPO: | (HANA:Nasdaq) | Provider of high-speed Internet access, local telephony, multimedia and data services in Korea | | Deal size: | 24 million | | Price: | 16.95 | | Led by: | Goldman Sachs | | My take: Non-Edgar filing. Terms are in ADRs. |
| IMAGEWARE SYSTEMS | | IPO: | (IW:Amex) | Develops, sells and supports a suite of modular software products that is used by law enforcement and public safety agencies | | Deal size: | 1.9 million | | Price range: | 8 - 10 | | Led by: | Paulson Investments | | My take: Each unit consists of one share of common stock and one public warrant. I'm not a big Paulson fan, but the market is pretty hot for software deals. Anything could happen, but be prepared for a nonevent. |
| INSILICON | | IPO: | (INSN:Nasdaq) | Provider of communications semiconductor intellectual property, or SIP, that is used by semiconductor and systems companies to design complex semiconductors | | Deal size: | 3.5 million | | Price range: | 9 - 11 | | Led by: | Robertson Stephens | | My take: Insilicon's communication technology is used in a wide range of devices. Phoenix Technology, the primary shareholder, is holding on to its shares. |
| INTERMUNE PHARMACEUTICALS | | IPO: | (ITMN:Nasdaq) | Develops and commercializes innovative products for the treatment of serious pulmonary and infectious diseases and congenital disorders | | Deal size: | 5.5 million | | Price range: | 17 - 19 | | Led by: | Warburg Dillon Read | | My take: March 6: Price increased from 14 - 16. Genentech (DNA Quote) and Connetics (CNCT Quote) are shareholders. Strong group of underwriters. I like this deal. |
| ITERIS | | IPO: | (ITER:Nasdaq) | Designs, develops, markets and implements software based solutions that improve the safety and efficiency of vehicle transportation | | Deal size: | 4.3 million | | Price range: | 11 - 13 | | Led by: | Bear Stearns | | My take: Software solutions for vehicle transportation safety. Steady revenue growth. |
| PARTSBASE COM | | IPO: | (PRTS:Nasdaq) | Provider of Internet business-to-business e-commerce services for the aviation industry | | Deal size: | 3.5 million | | Price range: | 11 - 13 | | Led by: | Roth Capital Partners | | My take: March 17: Shares increased from 3 million. I have yet to see a deal I like from this underwriter. This deal is flat. |
| SILICON LABORATORIES | | IPO: | (SLAB:Nasdaq) | Leader in the design and development of proprietary, analog-intensive, mixed-signal integrated circuits, or ICs | | Deal size: | 3.2 million | | Price range: | 21 - 23 | | Led by: | Morgan Stanley Dean Witter | | My take: An impressive client list, and this company is actually making money. I expect a reasonable premium on this deal. |
| SNOWBALL COM | | IPO: | (SNOW:Nasdaq) | Internet media company that operates a network of destination Web sites providing content, community and commerce to the Internet generation | | Deal size: | 6.3 million | | Price range: | 10 - 12 | | Led by: | Goldman Sachs | | My take: This deal is very similar to Alloy Online (ALOY Quote) which is now trading a few dollars above its IPO. Decent revenue, but a tough sector. |
| STRATUS SERVICES GROUP | | IPO: | (SERV:Nasdaq SC) | New Jersey-based provider of temporary staffing and engineering services | | Deal size: | 1.3 million | | Price: | 6 | | Led by: | Hornblower & Weeks | | My take: An unexplosive sector, and a low price makes me hesitant on this deal. I believe that there are better places to be this week. |
| SUN LIFE FINANCIAL SERVICES | | IPO: | (SLC:NYSE) | International financial services company | | Deal size: | 143.5 million | | Price range: | 8.28 - 10.34 | | Led by: | Morgan Stanley Dean Witter | | My take: Huge revenue and profitable. An excellent comparison is John Hancock Financial. This deal works for flat to small. |
| VIASYSTEMS GROUP | | IPO: | (VG:NYSE) | Worldwide independent provider of electronics manufacturing services, or EMS | | Deal size: | 40 million | | Price range: | 16 - 19 | | Led by: | Morgan Stanley Dean Witter | | My take: Large revenue, but not profitable. The deal is just too big to create a significant premium. |
|
