The following IPOs are expected to price this week:
Film Department Holdings (TFDI), a recently formed independent movie production company, plans to raise $85 million by offering 6.5 million shares at a price range of $12-$14. At the mid-point of the proposed range, Film Department will command a market value of $125 million. Film Department Holdings, which was founded in 2007, booked $13 million in sales over the last 12 months. The West Hollywood, CA-based company plans to list on the NASDAQ under the symbol TFDI. IPO Solutions is the lead underwriter on the deal.
FriendFinder Networks (FFN), an online adult social networking and multimedia entertainment company, plans to raise $220 million by offering 20 million shares at a price range of $10-$12. At the mid-point of the proposed range, FriendFinder Networks will command a market value of $466 million. FriendFinder, which was founded in 1993, booked $331 million in sales over the last 12 months. The Boca Raton, FL-based company plans to list on the NYSE under the symbol FFN. RenCap Securities and Ledgemont Capital Group are the lead underwriters on the deal.
Imperial Capital (ICG), an independent, full-service investment bank, plans to raise $107 million by offering 6.7 million shares at a price range of $15-$17. At the mid-point of the proposed range, Imperial Capital will command a market value of $480 million. Imperial Capital, which was founded in 1997, booked $104 million in sales over the last 12 months. The Los Angeles, CA-based company plans to list on the NYSE under the symbol ICG. BofA Merrill Lynch, JMP Securities, and Imperial Capital are the lead underwriters on the deal.
Ironwood Pharmaceuticals (IRWD), which is developing a new treatment for irritable bowel syndrome and constipation, plans to raise $250 million by offering 16.7 million shares at a price range of $14-$16. At the mid-point of the proposed range, Ironwood Pharmaceuticals will command a market value of $250 million. Ironwood, which was founded in 1998, booked $32 million in sales over the last 12 months. The Cambridge, MA-based company plans to list on the NASDAQ under the symbol IRWD. J.P. Morgan, Morgan Stanley, and Credit Suisse are the lead underwriters on the deal.
Patriot Risk Management (PMG), which provides workers' compensation insurance and fee-based insurance services, plans to raise $187 million by offering 17 million shares at a price range of $10-$12. At the mid-point of the proposed range, Patriot Risk Management will command a market value of $214 million. Patriot Risk Management, which was founded in 2003, booked $33 million in sales over the last 12 months. The Fort Lauderdale, FL-based company plans to list on the NYSE under the symbol PMG. FBR Capital Markets, Macquarie Securities, and Oppenheimer & Co. are the lead underwriters on the deal.
