Three IPOs will open for
trading today
, with one pricing above the range, one within and one below.
Audience
(
ANDC
), a fabless designer of audio chips for use in the iPhone and
other mobile devices, raised $90 million by offering 5.3 million
shares (5% insider) at $17, above the range of $14 to $16.
Audience plans to list on the NASDAQ under the symbol ADNC. J.P.
Morgan, Credit Suisse and Deutsche Bank were the joint
bookrunners on the deal.
Western Asset Mortgage Capital
(
WMC
), a Western Asset-managed REIT focused on investing in Agency
RMBS, raised $160 million by offering 8 million shares at $20, as
expected. Western Asset Mortgage Capital plans to list on the
NYSE under the symbol WMC. Deutsche Bank Securities acted as lead
managers on the deal.
WageWorks
(
WAGE
), which provides employee spending account benefits programs,
raised $58.5 million on Wednesday by offering 6.5 million shares
at $9, below the range of $10 to $12. WageWorks plans to list on
the NYSE under the symbol WAGE. William Blair and Stifel were the
joint bookrunners on the deal.
At the start of the week, 12 deals were listed on this week's
IPO calendar
. Aside from today's three pricings, three deals were postponed
or withdrawn.
Community Choice Financial
(
CCFI
), which provides pay day loans and check cashing to under-banked
consumers,
Customers Bancorp
(CUBI), a bank holding company with 14 branches in the eastern
Pennsylvania area, and
Rib-X Pharmaceuticals
(
RIBX
), a biopharmaceutical company focused on developing new
antibiotics are no longer expected this week.
The remaining IPOs planned include
Loyalty Alliance Enterprise
(LAEC), a provider of mobile direct marketing and customer
loyalty solutions in China;
TIM w.e.
(TMWE), which provides mobile marketing, entertainment and
payment services in Latin America;
Edwards Group
(EVAC), which makes vacuum and abatement systems for
semiconductor and other industries;
Ignite Restaurant Group
(IRG), which operates the Joe's Crab Shack and Brick House Tavern
+ Tap restaurants;
LINC Logistics Company
(LLGX), which offers supply chain logistics services primarily to
the US auto industry; and
New Source Energy
(NSE), which owns interests in oil and natural gas properties in
Eastern Oklahoma.