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 Recent Public and Private Company Financings

   

Apparel Retailer Express Plans IPO

Company Intends to Use Proceeds for Debt Repayment

 

February 21, 2010 – This past week the Columbus, Ohio based apparel retailer Express filed a registration statement with the U.S. Securities and Exchange Commission to go public through an initial public offering (IPO).  The company indicated that it was seeking to raise up to $200 million. 

Express announced that they plan to use proceeds of the IPO to prepay debt that is due in 2015. As of October 31, 2009, the company had a total of almost $417 million in debt. (Full Story)


Better Spot, the Electric Car Charge Spot Firm to Receive $350 Million in Venture Financing

Despite Criticism, HSBC is Leading the Venture Capital Group & Investing the Bank’s Own Money

 

January 26, 2010 - Better Place, founded by Shai Agassi, an Israeli-American software engineer is set to close on a new round of venture capital financing of $350 million today.

 

The company intends to create a vast network of charge spots to charge electric cars.  Many are questioning the company’s business model, and are privately stating that the company will need billions more in financing. 

 

Better Place’s questionable business plan would result in consumers buying electric vehicles from automakers, but getting their batteries from Better Place.  They would pay Better Place a fee based on the distance they drive.  The company’s plans include thousands of charge points and “battery switching stations.”  (Full Story)


Houston American Energy Completes Financing & Raises $12.8 Million

Offering Placed With Institutional Investors – Share Price Drops

 

December 5, 2009 - Houston American Energy Corp. (Nasdaq: HUSA ) has completed and received the funds from a registered direct offering, which was placed with institutional investors.  The offering consisted of 2,890,000 shares of the Company's common stock at a price of $4.68 per share.  The shares closed yesterday at $4.49, down from a recent high of close to $5.00 per share. (Full Story)


James River Coal Completes $172.5 Million Debt Financing

Placement made to Institutional Buyers

 

 

December 3, 2009 - James River Coal Co. (Nasdaq GS: JRCC), a Virginia-based producer of steam and industrial-grade coal, has announced the completion of an offering of $172.5 million of 4.5% convertible senior notes due 2015.  The placement was made to qualified institutional buyers pursuant to Securities and Exchange Commission (SEC) Rule 144A. (Full Story) 


LinkedIn Founder Sees IPO as Likely, But Not in the Foreseeable Future

Company Backers Include Goldman Sachs, SAP & McGraw Hill

 

November 27, 2009 – Reid Hoffman, the executive chairman and co-founder of LinkedIn, the world's largest professional social networking website, has indicated that the company will probably seek an initial public offering (IPO), but not in the near foreseeable future.

 

Hoffman was quoted by Reuters as saying, "Probably at some point a balance will occur when that's the right thing. That will not occur in the near term." Hoffman’s statement was made in London at an event celebrating the network having reached 3 million users in Britain.  (Full Story)