The following IPOs are expected to price this week:
Alpha and Omega Semiconductor (AOSL), which develops power management chips for notebooks PCs and consumer electronics, plans to raise $91 million by offering 5.1 million shares at a price range of $17-$19. At the mid-point of the proposed range, Alpha and Omega will command a market value of $442 million. Alpha and Omega Semiconductor, which was founded in 2000, booked $225 million in sales last year. The Sunnyvale, CA-based company plans to list on the NASDAQ under the symbol AOSL. Deutsche Bank Securities and Piper Jaffray are the lead underwriters on the deal.
Convio (CNVO), which provides on-demand marketing software to 1,300 nonprofit organizations, plans to raise $56 million by offering 5.1 million shares at a price range of $10-$12. At the mid-point of the proposed range, Convio will command a market value of $205 million. Convio, which was founded in 1999, booked $63 million in sales last year. The Austin, TX-based company plans to list on the NASDAQ under the symbol CNVO. Thomas Weisel Partners and Piper Jaffray are the lead underwriters on the deal.
Film Department Holdings (TFDI), a recently formed independent movie production company, plans to raise $60 million by offering 6.5 million shares at a price range of $12-$14. At the mid-point of the proposed range, Film Department Holdings will command a market value of $136 million. Film Department Holdings, which was founded in 2007, booked $40 million in sales last year. The West Hollywood, CA-based company plans to list on the NASDAQ under the symbol TFDI. Merriman Curhan Ford and IPO Solutions are the lead underwriters on the deal.
PAA Natural Gas Storage (PNG), an L.P. formed by Plains All American to operate and manage natural gas storage facilities, plans to raise $200 million by offering 10 million units at a proposed range of $19-$21 per unit. At the mid-point of the proposed range, PAA Natural Gas Storage L.P. will command a market value of $1.1 billion. PAA Natural Gas Storage L.P., which was founded in 2005 and booked $72 million in sales last year, plans to list on the NYSE under the symbol PNG. Barclays Capital, UBS Investment Bank and Citi are the lead underwriters on the deal.
Last week, there were 7 IPO pricings. SPS Commerce (SPSC), which provides on-demand supply chain management software, was the week's winner, ending up 16% from its IPO price.
