American Public Education Inc., a Charlestown, W. Va.-based provider of online postsecondary education for the military and public service communities, has set its IPO terms to around 4.69 million common shares being offered at between $15 and $17 per share. It would have an initial market cap of approximately $288 million if it prices at the high end of its range. The company 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 (41.4 percent pre-IPO stake) and Camden Partners (10.3 percent).
AmWINS Group Inc., a Charlotte, N.C.-based wholesale distributor of specialty insurance products and services, has withdrawn its registration for a $115 million IPO. The company did not provide an explanation for its decision. AmWINS had planned to trade on the NYSE under ticker symbol AGI, with Merrill Lynch and Wachovia Securities serving as co-lead underwriters. Parthenon Capital acquired a controlling interest in AmWINS in October 2005.
Cardtronics Inc., a Houston, Texas-based operator and distributor of ATM machines, has set its IPO terms to around 16.67 million common shares being offered at between $14 and $16 per share. It would have an initial market cap of approximately $550.55 million, were it to price at the high end of its range, and plans to trade on the Nasdaq under ticker symbol CATM. Deutsche Bank Securities, William Blair & Co. and Banc of America Securities are serving as co-lead underwriters. CardTronics previously filed for an IPO in 2004, but later withdrew the offering. Soon after, it raised $75 million in new funding from TA Associates, which was used for both working capital and to provide some liquidity to majority shareholder CapStreet Group LLC. The current IPO registration lists CapStreet as having a 37.5 percent ownership position, with TA holding a 29.5 percent position.
China Digital TV Holding Co., a Beijing-based provider of conditional access systems to China’s digital television market, raised approximately $192 million through its IPO. The company priced 12 million American depository shares at $16 per share (above its upwardly-revised $13-$15 range), which gives it an initial market cap of around $888 million. China Digital trades on the NYSE under ticker symbol STV, and Morgan Stanley and Credit Suisse served as co-lead underwriters. Shareholders include SAIF, with a 21.8 percent pre-IPO stake.
Critical Homecare Solutions Inc., a Conshohocken, Penn.-based provider of home infusion therapy services to patients suffering from acute or chronic conditions, has filed for a $125 million IPO. It plans to trade on the Nasdaq under ticker symbol CHCS, with UBS serving as lead underwriter. Kohlberg & Co. holds around a 97 percent ownership stake in Critical Homecare, pre-IPO.
Deltek Systems Inc., a Herndon, Va.–based provider of enterprise applications software for project-focused organizations, has set its IPO terms to 9 million common shares being offered at between $17 and $19 per share. It would have an initial market cap of approximately $817.55 million, were it to price at the high end of its range. Deltek plans to trade on the Nasdaq under ticker symbol PROJ, with Credit Suisse serving as lead underwriter. New Mountain Capital is Deltek’s majority shareholder.
Noah Education Holdings Ltd., a Shenzhen, China-based provider of interactive education content in China, has set its IPO terms to around 9.85 million American depository shares being offered at between $9.80 and $11.80 per share. It plans to trade on the NYSE under ticker symbol NED, with Deutsche Bank Securities serving as lead underwriter. Shareholders include Baring Private Equity Partners, Lehman Brothers Commercial Corp. Asia Ltd. and Dynamic View Investments.
SandRidge Energy Inc. (f.k.a. Riata Energy), an Oklahoma City-based oil and gas exploration and production company, has set its IPO terms to 26 million common shares being offered at between $22 and $24 per share. It plans to trade on the NYSE under ticker symbol SD, with Lehman Brothers serving as lead underwriter. Ares Management holds a 12.3 percent ownership stake, based on a $250 million common stock investment it made earlier this year. SandRidge filed for a $276 million IPO last year, but later withdrew its registration.