American Public Education Inc., a Charles Town, West Va.-based provider of online postsecondary education for the military and public service communities, has filed for a $92 million IPO. It plans to trade on the Nasdaq under ticker symbol APEI, with William Blair & Co. and Piper Jaffray serving as co-lead underwriters. Shareholders include ABS Capital Partners (59.11 percent pre-IPO stake) and Camden Partners (14.63 percent).
Bain Capital has withdrawn plans to sell five million shares of chemical maker Innophos Holdings Inc. (Nasdaq: IPHS), via a secondary public offering. The deal would have reduced Bain’s ownership position from 48.5 percent to 24.5 percent. Bain acquired Innophos in 2004 from Rhodia for $550 million, and brought it public last fall.
CCS Medical Holdings Inc. (a.ka. Chronic Care Solutions), a Clearwater, Fla.-based medical supply management company, set its IPO terms to 10 million common shares being offered at between $14 and $16 per share. It would have an initial market cap of around $607 million, if it were to price at the high end of its range. CCS plans to trade on the Nasdaq under ticker symbol CCSM, with Lehman Brothers and Goldman Sachs serving as co-lead underwriters. Warburg Pincus acquired the company in 2005.
Concho Resources Inc., a Midland, Texas-based oil and gas company focused on the Permian Basin of Southeast New Mexico, raised $240.24 million via its IPO. The company priced 20.89 million common shares at $11.50 per share ($14-$16 range), for an initial market cap of $833.75 million. It will trade on the NYSE under ticker symbol CXO, while JPMorgan and Banc of America Securities served as co-lead underwriters. Shareholders include Yorktown Energy Partners.
DLI Holding Corp., a Uniondale, N.Y.-based maker of cosmetics and over-the-counter pharmaceuticals, has filed for a $200 million IPO. It plans to trade on the Nasdaq under ticker symbol DLIH, with JP Morgan and Bear Stearns serving as co-lead underwriters. DLI is owned by private equity firm Kelso & Company.
Dolan Media Co., a Minneapolis-based provider of business information and professional services to the legal, financial and real estate markets, raised around $195.12 million from its IPO. The company priced 13.46 million common shares at $14.50 per share, which gives it a market cap of approximately $364 million. It will trade on the NYSE under ticker symbol DM, while Goldman Sachs and Merrill Lynch served as co-lead underwriters. Shareholders include ABRY Partners, Caisse de depot et placement du Quebec and BG Media Investors.
Ellora Energy Inc., a Boulder, Colo.-based oil and gas company, has raised the number of shares it plans to sell in its IPO from five million to eight million. It has not yet disclosed a price range, but has bumped up its original $86.25 million IPO target to $147.2 million. Ellora plans to trade on the Nasdaq under ticker symbol LORA, with AG Edwards and Friedman Billings Ramsey serving as co-lead underwriters. Ellora is a portfolio company of Yorktown Energy Partners.
Horsehead Holding Corp., a Monaca, Pa.-based producer of specialty zinc and zinc-based products, raised around $87.6 million in its IPO. The company priced 4.86 million common shares at $18 per share ($18-$20 range), for an initial market cap of nearly $613 million. It will trade on the Nasdaq under ticker symbol ZINC, while Friedman Billings Ramsey served as lead underwriter. Shareholders include Sun Capital Partners.
Genpact Ltd. (f.k.a. Gecis Global), a global business process outsourcing company, raised around $494.11 million from its IPO. The company priced 35.29 million common shares at $14 per share ($16-$18 range), for an initial market cap of approximately $2.89 billion. Genpact will trade on the NYSE under ticker symbol G, while Morgan Stanley, Citi and JPMorgan served as co-lead underwriters. General Atlantic and Oak Hill Capital Partners acquired a 62.63 percent stake in Genpact from General Electric in 2005, for approximately $500 million (including $375 million in equity).
Paragon Shipping Inc., an Athens, Greece-based dry-bulk shipping company, raised $164.8 million in its IPO. The company priced 10.3 million common shares at $16 per share ($16-$18 range), and will trade on the Nasdaq under ticker symbol PRGN. UBS and Morgan Stanley served as co-lead underwriters. Shareholders include Citigroup and Silver Point Capital.
Reliant Pharmaceuticals Inc., a Liberty Corner, N.J.-based cardiovascular drug company, has filed for a $400 million IPO. It plans to trade on the NYSE under ticker symbol RRX, with Goldman Sachs and Merrill Lynch serving as co-lead underwriters. This is the company’s second swing for the IPO fences, having filed for a $300 million offering in early 2005, only to pull it off several months due to “unfavorable market conditions.” It has not raised any private funding since then, but previously had raised over $500 million from firms like Alkermes Inc., Bay City Capital, Invermed Associates, Morgan Stanley Private Equity, Goldman Sachs, Versant Ventures. Its final infusion came with an $864 million post-money valuation.