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Sensata Technologies Seeks $632 Million IPO

March 1, 2010 – Netherlands based Sensata Technologies Holding NV has filed a registration statement for an initial public offering with the US Securities and Exchange Commission (SEC) to raise up to $632 million. 

Sensata designs, manufactures, and markets a wide range of highly engineered electromechanical and electronic sensors and controls. (Full Story)

Secondary Public Offerings Are Generating Significant Interest

$49 Billion Has Been Raised So Far This Year by Public Companies

February 23, 2010 – While the level of general corporate finance activity so far this year has been off to a slow start, a large number of secondary public offerings have resulted in a busy 2010 for many investment bankers and corporate finance advisers.  This high level of financing activity by existing public companies confirms the benefits that a stock market listing can provide a company that is seeking equity capital, especially in a difficult economic environment.

As of last week, secondary offerings, in which publicly-traded companies raise additional capital by selling shares publicly, were up 82 percent for the 2010, over the same period of 2009.  According to data released by Thomas Reuters, public companies have raised almost $49 billion so far in 2010, with secondary offerings in Japan and the United States accounting for 47 percent of the total amount.  (Full Story)

Apparel Retailer Express Plans IPO

Company Intends to Use Proceeds to Repay Debt

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)

 Adult Website Operator FriendFinder Kills IPO Plans

Publisher of  Penthouse Magazine Had Sought to Raise $220 Million

February 5, 2010 – The Boca Raton based social networking company FriendFinder Networks has canceled plans for a $220 million initial public offering (IPO) citing market conditions.  The company had initially sought to raise $460million, with the objective of using the cash raised through the IPO to pay down debt. 

While as a social networking company, FriendFinder sponsors websites including the single Christian website BigChurch.com, it generates most of its revenues from adult websites.  These adult websites include Cams.com and AdultFriendFinder.com.  (Fulll 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)

What a Difference a Year or Two Make in the U.S. IPO Market

Signs Exist For a Good U.S. 2010 IPO Market, Especially for Foreign Companies

January 20, 2010 - What a difference a year or two make.  2008 was a tough year for the U.S. initial public offering (IPO) market, both due to the meltdown in the global equity markets and the global recession.  In 2008 there were only 31 U.S. IPOs, which was the lowest number of IPOs since 1975.  The fourth quarter of 2008 was an even bigger disaster with only one U.S. IPO coming to the market. 

The first quarter of 2009 wasn’t much better. The year started with the worst market for U. S. IPOs in decades.  With the U.S. stock market reaching a multi-year low by March, there were only two IPOs that went public in in the U.S. in the first quarter of the year.  Then the general market recovery started.  (Full Story)

Insurer Symetra Financial Reduces its Valuation as a Signal that its IPO Will Now Go Forward

Warren Buffett’s Berkshire Hathaway to Keep its Shares and Not Be a Selling Shareholder

January 10, 2010 – The Bellevue, Washington based insurance company, Symetra Financial set the basic terms for its initial public offering (IPO) this week, lowering its valuation from the amount indicated in its Securities and Exchange Commission (SEC) filing made in October.  This decrease in valuation is an indication that the final pricing for the IPO will occur shortly.  (Full Story)