While I was away on vacation this week, we have had (3) companies come public. IPO’s so far this week include:
STWD – Starwood Property Trust
Wednesday 8/12/09
25.0M Shares Offered
40.5M Revised Shares Offered
Initial Range – $20-20
Priced – $20.00
Opened – $19.50
Lead Underwriters: Citigroup, Deutsche Securities and Merrill Lynch.
Description: Starwood is an REIT planning to invest in commercial mortgage loans, real estate debt and CMBS.
EM – Emdeon
Wednesday 8/12/09
21.5M Shares Offered
Initial Range – $13.50-15.50
Priced – $15.50
Opened – $17.75
Lead Underwriters: Morgan Stanley, Goldman Sachs, Barclays Capital, UBS, Credit Suisse, Citigroup and Jefferies & Co.
Description: Emdeon provides revenue and payment cycle management solutions to the healthcare industry
CPIX – Cumberland Pharma
Tuesday 8/11/09
5.0M Shares Offered
Initial Range – $19-21
Priced – $17.00
Opened – $17.00
Lead Underwriters: UBS, Wells Fargo and Jefferies & Co.
Description: Cumberland sells specialty pharmaceuticals, including a new injectable treatment for pain and fever.
Sutherland Asset Management is also expected to IPO this week.
SLD – Sutherland Asset Management
16.7M Shares Offered
Initial Range – $15-15
Priced – $
Opened – $
Lead Underwriters: UBS and Keefe Bruyette.
Description: Sutherland is a newly formed REIT that will invest in agency MBS and highly rated non-agency securities.
