Apax Partners has sold five million shares of apparel and accessories retailer Charlotte Russe Holding Inc. (Nasdaq: CHIC) in a secondary public offering. The shares were sold at 26.25 per share, with Goldman Sachs serving as lead bookrunner. This represents around a 27x return for Apax, which retains 2.7 million shares and originally made the investment via Sanders Karp & Megrue.
ASAlliances Biofuels LLC, a Dallas-based development-stage ethanol company, has filed to raise $300 million via an IPO of common stock. It plans to trade on the Nasdaq under ticker symbol ASAB, with UBS and Lehman Brothers serving as co-lead underwriters. Shareholders include American Capital Strategies and Laminar Direct Capital (D.E. Shaw affiliate).
Eagle Rock Energy Partners LP, a Houston-based natural gas gatherer, processor and transporter, has set its proposed IPO terms to 12.5 million common shares being offered at between $19 and $21 per unit. It plans to trade on the NYSE under ticker symbol ERE, with UBS, Lehman Brothers and Goldman Sachs serving as co-lead underwriters. Natural Gas Partners is listed as a significant shareholder.
Hawkeye Holdings Inc., an Iowa Falls, Iowa-based ethanol producer, has postponed a $350 million IPO that had been scheduled to price this week. Company CEO Bruce Rastetter said: “We have decided to temporarily delay our IPO in light of current conditions in the equity markets, and the recent pullback in the energy segment in particular, which are not conducive at this time to achieving appropriate valuation.” Credit Suisse, Morgan Stanly and BofA are serving as co-lead underwriters, while Thomas H. Lee Partners holds a 79% pre-IPO position.
ICF International Inc., a Fairfax, Va.-based provider of management, technology and policy consulting serving to the U.S. federal government, has set its proposed IPO terms to 4.67 million common shares being offered at between $14 and $16 per share. It plans to trade on the Nasdaq under ticker symbol ICFI, with UBS and Stifel Nicolaus serving as co-lead underwriters. CM Equity Partners holds an 88.64% pre-IPO position.
New Oriental Education & Technology Group Inc., a Beijing-based provider of private educational services in China, priced 7.5 million American depository shares at $15 per ADS ($11-$13 range), for an IPO take of approximately $112.5 million. It will trade on the NYSE under ticker symbol EDU, while Credit Suisse and Goldman Sachs (Asia) served as co-lead underwriters. Shareholders include Tiger Global Private Investment Partners.
Obagi Medical Products Inc., a Long Beach, Calif.-based drug company focused on the aesthetic and therapeutic skin health markets, has filed to raise $86.25 million via an IPO of common stock. It plans to trade on the Nasdaq under ticker symbol OMPI, with JPMorgan serving as lead underwriter. Stonington Partners holds a 60.7% pre-IPO stake.
TA Associates is planning to sell 2.5 million shares of Eagle Test Systems Inc. (Nasdaq: EGLT), as part of the company’s $5.5 million secondary public offering. TA currently holds a 44.1% ownership stake, and would retain 29.2% following the sale.