Archive for the ‘Merrill Lynch’ Category

Skullcandy Files For An IPO

Amit Chowdhry | January 29, 2011 | 794 views | 1 Comment
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Skullcandy, Inc. has filed a Form S-1 with the SEC, which means that they want to have an initial public offering (IPO) of their common stock. The price and number of shares are not yet known. BofA Merrill Lynch and Morgan Stanley are acting as joint book-running managers for the IPO. Skullcandy primarily sells headphones and other audio accessories.

NewEgg.com Files For $175 Million IPO

Amit Chowdhry | September 28, 2009 | 6,551 views | Add a Comment
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NewEgg.com is an online retail company that sells electronics such as digital cameras, cell phones, and laptops. The company plans to file for an IPO and raised roughly $175 million in the process. NewEgg.com started in 2001 and made about $2.2 billion in revenues last year. Insight Venture Partners invested $20 million in NewEgg.com around 2005. Insight Venture Partners has a 12.7% stake in NewEgg.

Newegg.com Inc. is based in City of Industry, California. Newegg was founded by Fred Chang and the company is run by CEO Tally C. Liu. When NewEgg.com was founded, it was a subsidiary of ABS Computer Technologies Inc. NewEgg has about 1,500 employees. The funds raised will be used to fund operations expansion in Canada and China. The company has even been profitable since they started in 2001. The IPO is being managed by JP Morgan, Bank of America Merrill Lynch, and Citi.

Disney Buying Marvel For $4 Billion In Cash and Stock

Amit Chowdhry | August 31, 2009 | 2,640 views | 2 Comments
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The Walt Disney Company (NYSE:DIS) has made an agreement to buy out Marvel Entertainment Inc. (NYSE:MVL) today.  The transaction will take place in cash and stock.

As part of the agreement, the transaction will be based on the closing price of Disney stock as of August 28, 2009.  Marvel shareholders would receive $30 per share in cash and 0.745 Disney shares for each Marvel share that they own.

“This transaction combines Marvel’s strong global brand and world-renowned library of characters including Iron Man, Spider-Man, X-Men, Captain America, Fantastic Four and Thor with Disney’s creative skills, unparalleled global portfolio of entertainment properties, and a business structure that maximizes the value of creative properties across multiple platforms and territories,” stated The Walt Disney Company CEO and President Robert A. Iger in a press release. “Ike Perlmutter and his team have done an impressive job of nurturing these properties and have created significant value. We are pleased to bring this talent and these great assets to Disney.”

Disney will acquire the ownership of Marvel and 5,000 of the characters belonging to the franchise.  Perlmutter will continue to oversee the Marvel properties.

The transaction is subject to the clearance under the Hart-Scott-Rodino Antitrust Improvements Act, non-U.S. merger control regulations, etc.  Marvel was advised by BofA Merrill Lynch.

Ancestry.com Files For An IPO

Amit Chowdhry | August 4, 2009 | 1,705 views | Add a Comment
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Ancestry.com
is a genealogy company that recently filed for an IPO.  The company hopes to raise $75 million as part of the public offering.  The IPO was revealed in a recent SEC filing.  Ancestry plans to list themselves on either the NASDAQ or the NYSE under the symbol ACOM with Morgan Stanley and Bank of America’s Merrill Lynch acting as the lead underwriters.

Ancestry started in 1983 under the name Generations Network.  The company changed the name to Ancestry.com Inc. last month in order to prepare for the IPO according to paidContent.

Some of the related websites and software that Ancestry.com owns includes Family Tree Maker, myfamily.com, Rootsweb, MyCanvas, Jiapu.com, and Genealogy.com.  The company sold $300 million worth of equity stake to previous investor Spectrum Equity Investors in 2007 as part of a recap.  Before that Ancestry.com raised $95 million in funding from Sorenson Media, CMGI@Ventures, and several other investors.

Ancestry.com has about one million paying subscribers and their revenue for 2008 was $197.6 million.  Thus far the company invested $80 million to acquire and digitize additional records.  The company’s profits for the first 6 months in 2009 was $8.18 million.  During the same period the year before, the company made $1.24 million in profits.

The company plans to repay a large amount of debt to credit facility CIT Lending Services Corporation.

TheMarkets.com Raises $30 Million From 11 Top Investment Banks/Owners

Amit Chowdhry | July 12, 2007 | 2,590 views | Add a Comment
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TheMarkets.com LogoTheMarkets.com is a website that reports financial resources and estimations to institutional investors.  Today the company announced that it has “completed a $30 million Series S Rights Offering to its existing broker-owners[1].”

“This investment is a tangible validation of our business model to provide value-added content and workflow solutions to the buy-side,” stated David Eisner, the CEO and President of TheMarkets.com. “Together with our already strong cash flow and balance sheet, this round of financing will propel our growth in the coming years. The funding will enable us to pursue strategic investments and acquisitions, as we continue to expand globally by leveraging our existing distribution platform and our unique relationships with the sell-side to introduce new products and services requested by our clients.”

Who owns TheMarkets.com?  The company was formed in 2000 by eleven of the top investment banks: Banc of America Securities, Citigroup, Credit Suisse, Deutsche Bank, Dresdner Kleinwort, Goldman Sachs, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS Investment Bank.  The site also offers information regarding company financial filings and pending equity deals straight from the source.  TheMarkets.com is based in New York and also has offices in London.

TheMarkets.com serves over 1500 firms in 43 countries.  “TheMarkets.com has a proven management team and a sound business model,” stated Mark Steinert, a new Board Member of and also a Global Head of Research at UBS. “We view the Company as an ideal vehicle through which to develop new tools for the buy-side that uniquely leverage our services, and we were delighted to be a significant investor in the round.”

[1] TheMarkets.com Press release: TheMarkets.com Closes $30 Million to Fund Strategic Growth Plans

References:
[2] PaidContent: Online Financial Researcher TheMarkets.com Closes $30 Million Investment

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