Basic Care Networks Inc., a Marina Del Rey, Calif.-based healthcare services holding company, has canceled a proposed $70 million IPO. Sloan Equity Partners holds a 14.2 percent ownership position.
GSI Technology Inc., a Santa Clara, Calif.-based provider of static random access memory products for networking and telecom equipment, has filed for a $57.5 million IPO. It plans to trade on the Nasdaq under ticker symbol GSIT, with Needham & Co. and WR Hambrecht & Co. serving as co-lead underwriters. Shareholders include Monet Capital. GSI had filed for a $103.5 million IPO in 2004, but withdrew its registration later that year.
MetroPCS Communications Inc., a Dallas-based wireless communications services provider, has filed for a $1.125 billion IPO. Bear Stearns is serving as lead underwriter. The company has raised around $415 million in venture capital funding since its 1994 inception. It also secured an additional $688 million in late 2005 from TA Associates and Madison Dearborn Partners, but that capital was used to fund a tender offer for shares from existing stockholders (TA and Madison also provided $50 million in new capital, which is included in the $688 million figure). Shareholders include TA (13.24 percent pre-IPO stake), Madison Dearborn (13.20 percent), Accel Partners (11.26 percent) and M/C Venture Partners (8.45 percent). MetroPCS had priced an IPO at $17 per share back in 2003 but, before the company could begin trading on the Nasdaq exchange, certain accounting inconsistencies were discovered and the IPO was withdrawn.
National CineMedia Inc., a Centennial, Colo.-based distributor of in-theater advertising, has set its proposed IPO terms to 38 million common shares being offered at between $18 and $20 per share. It plans to trade on the Nasdaq under ticker symbol NCMI, with Credit Suisse, JPMorgan, Lehman Brothers and Morgan Stanley serving as co-lead underwriters. Shareholders include Madison Dearborn Partners, The Anschutz Co., Cinemark and Regal Cinemas.
Smurfit Kappa is considering an IPO later this year that could value the company at between €4.5 billion and €5 billion, according to The Financial Times. Shareholders include Cinven, CVC Capital and Madison Dearborn Partners.
Texas Pacific Group has offered to sell 7.5 million shares of retailer J. Crew (NYSE: JCG) in a secondary public offering. If successful, it would cut TPG’s ownership position from 36 percent to 24 percent.
U.S. Auto Parts Network Inc., a Carson, Calif.-based provider of aftermarket auto parts, has set its proposed IPO terms to 10 million common shares being offered between $10 and $12 per share. It plans to trade on the Nasdaq under ticker symbol PRTS, with RBC Capital Markets and Thomas Weisel Partners serving as co-lead underwriters. Oak Investment Partners holds a 30.4 percent pre-IPO stake.