Three IPO pricings today: one above, one within and one below range
Three IPOs will open for
, 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 Aside from today's three pricings, three deals were postponed or withdrawn.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.