This week, a pair of venture-backed companies will hit the public markets, but it will not be enough to boost the final 2001 IPO tally anywhere near what was seen last year. According to our VentureXpert database, just 35 venture-backed IPOs have raised $2.711 billion, compared to the 261 deals that raised $24.863 billion last year.
Despite the fact the final tally for 2001 is not yet completed, there will be little in the way of activity to boost that number.In fact, over the next month, just three venture-backed companies are on the radar screen for public offerings.
First up was Fisher & Paykel Healthcare Corp. Ltd. (NNM:FPHC), a New Zealand-based company, which raised $79.2 million when it priced Tuesday at $18 per ADS (or $4.50 per share). The company had received private equity financing from AMP Henderson Global Investors. Deutsche Banc Alex. Brown was the lead-manager for the IPO.Also set to price this week is a $162 million deal from DJ Orthopedics Inc. (Proposed NNM:DJOI), a manufacturer of orthopedic products. The Vista, Calif.-based company is backed by JP Morgan Partners, TCW Capital and Wachovia Capital Partners.
Magma Design Automation Inc. (Proposed NNM:LAVA), a CAD/CAM software supplier of automation tools for integrated circuit design, is set for a late November pricing. The $44 million deal is lead managed by Credit Suisse First Boston and boasts a plethora of private equity backers. CMEA Ventures, Crosslink Capital, Galleon Management Inc., J&W Seligman &Co., Intel Capital and Redwood Venture Partners are among the firms that have vested $108.47 million in Magma. The Cupertino, Calif.-based company received a $288.7 million valuation in September 2000 when it was infused with a $28.73 million expansion round.
Colleen O’Connor can be contacted at: Colleen.Oconnor@tfn.com