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There are no fewer than eight IPOs on deck this week including: ethanol producer Hawkeye Holdings (HWY), women's pharma developer Warner Chilcott Holdings (NASDAQ:WCRX), compression software developer DivX (DIVX), computing appliances developer Riverbed Technology (NASDAQ:RVBD), data management software provider CommVault Systems (NASDAQ:CVLT), Hiland Partners GP Hiland Holdings GP (HPGP), diabetic supplies provider Home Diagnostics (HDIX), and Kentucky bank Porter Bancorp (NASDAQ:PBIB). All excerpts are from the companies' prospectuses, referenced in each summary:

HAWKEYE HOLDINGS (HWY)

Company Overview (from Prospectus):

We are the third largest ethanol producer in the United States based on production capacity as reported by the Renewable Fuels Association—RFA. We believe that our access to low-cost corn supplies, approach to marketing our ethanol, operating scale, transportation infrastructure and operational expertise allow us to be one of the lowest-cost producers of ethanol in the United States.

Offering: 15,909,091 shares offered at a range of $21-23 per share for a mid-range raise of $350 million. The company expects net proceeds of $325 million, with an additional $49.4 million assuming the underwriters exercise their over-allotment. $125 million will be used to redeem prior debt.

Lead Underwriters: Credit Suisse, Morgan Stanley, Banc of America Securities LLC


Financial Highlights:

For the year ended December 31, 2005, we generated revenue of $89.1 million, net income of $8.6 million and EBITDA of $26.1 million, and we sold 48.3 million gallons of ethanol at an average price per gallon of $1.65. For the six months ended June 30, 2006, we generated revenue of $94.6 million, net income of $1.5 million and EBITDA of $19.8 million, and we sold 44.4 million gallons of ethanol at an average price per gallon of $1.94. We have sold forward approximately 81 million gallons of ethanol (which represents 37.7% of our estimated annual ethanol production of approximately 215 million gallons for the 12-month period ending June 30, 2007) at an average price of $2.09 per gallon.


Related on Seeking Alpha:
Coverage of Hawkeye Holdings; Highlights from their S-1 filing; Everything you wanted to know about Ethanol and were afraid to ask.

WARNER CHILCOTT HOLDINGS (WCRX)

Company Overview
(from Prospectus):

We are a leading specialty pharmaceutical company focused on marketing, selling, developing and manufacturing branded prescription pharmaceutical products in women’s healthcare and dermatology in the United States. We have established strong franchises in these two areas through our precision marketing techniques and specialty sales forces of approximately 370 representatives. We believe that our proven product development capabilities, coupled with our ability to execute acquisitions and in-licensing transactions and develop partnerships, such as our relationship with LEO Pharma, will enable us to sustain and grow these franchises.


Offering:
70.6 million shares at a $17-19 range per share. At mid-range, the company expects net proceeds of $1.2 billion.

Use of Proceeds:
The company will use the funding to repay debt ($approximately $700 million) and repurchase some of the preferred shares from its private equity investors ($278 million), and to pay a termination fee to the investors as well ($27 million). The rest is for general corporate purposes.

Lead Underwriters: Goldman Sachs, Credit Suisse, JP Morgan, Morgan Stanley

Related on Seeking Alpha: Highlights from WCRX's S-1 filing.

DIVX (DIVX)

Company Overview (from Prospectus)

We create products and services designed to improve the experience of media. Our first product offering was a video compression-decompression software library, or codec, which has been actively sought out and downloaded by consumers over 180 million times in the last four years, including over 50 million times during the last twelve months. We have since built on the success of our codec with other consumer software, including the DivX Player application.

Offering: 9.1 million shares of which 1.64 million are from selling shareholders. At an offering range of $12-14 per share, the company expects net proceeds of $87.4 million.

Underwriters: JP Morgan, Bank of America, Cowen, Canaccord Adams, Montgomery.

Financial Highlights:

In the first half of 2006 and in the full years 2005, 2004 and 2003, our revenues were approximately $27.3 million, $33.0 million, $16.4 million and $7.7 million, respectively, and our net income (loss) was approximately $5.9 million, $2.3 million, $(4.3) million and $(3.9) million, respectively. As of June 30, 2006, we had an accumulated deficit of approximately $13.4 million.


Related on Seeking Alpha:
Coverage of DivX; Justin Hibbard on DivX's price range.

RIVERBED TECHNOLOGIES (RVBD)

Company Overview
(from Prospectus):

Riverbed® has developed an innovative and comprehensive solution to the fundamental problems of wide-area distributed computing. Historically, computing within an organization across wide area networks (WANs) has been plagued by poor performance, IT complexity and high cost. Our Steelhead® appliances enable our customers to improve the performance of their applications and access to their data across WANs, typically increasing transmission speeds by 5 to 50 times and in some cases up to 100 times. Our products also offer the ability to simplify IT infrastructure and realize significant capital and operational cost savings. Our goal is to establish our solution as the preeminent performance and efficiency standard for organizations relying on wide-area distributed computing.

Offering:8.4 million shares at $7-8.50 range. 100k shares are being sold by an internal shareholder. At mid-range, net proceeds are expected to be $56.8 million ($65.9 million if the underwriter's option is exercised). Capital will be used for general corporate purposes, and possibly to repay some of an existing credit facility.

Underwriters: Goldman Sachs, Citigroup, Deutsche Bank, Thomas Weisel.

Financial Highlights: The company's net loss grew from $9.8 million on $2.6 million of sales in 2004 to $17.1 million on $22.9 million of sales in 2005. For the first half of the year, net loss increased from $8.8 million on $5.2 million of sales in 2005 to $10.3 million on $31.8 million of sales in H1 06.

COMMVAULT SYSTEMS (CVLT)

Company Overview
(from Prospectus):

CommVault is a leading provider of data management software applications and related services in terms of product breadth and functionality and market penetration. We develop, market and sell a unified suite of data management software applications under the QiNetix (pronounced “kinetics”) brand. QiNetix is specifically designed to protect and manage data throughout its lifecycle in less time, at lower cost and with fewer resources than alternative solutions.


Offering:
11.11 million shares at a range of $12.50-14.50 per share. 4.96 million of these shares are being offered by selling shareholders. At mid-range, the company expects net proceeds of $74.7 million. The company is also raising $1.4 million in a concurrent private placement and will borrow $15 million in a new loan; together with $10 million cash in the company, the current investors are expected to receive $99.8 million from the company's portion of the raise.

Lead Underwriters:Credit Suisse, Goldman Sachs

Financial Highlights: For the June quarter, "total revenues increased $11.4 million, or 52%, from $22.1 million in the three months ended June 30, 2005 to $33.5 million in the three months ended June 30, 2006." Gross margins were 86% in both quarters, and the 06 quarter saw a net profit of $3.3 million, compared to a $380k net loss in the 05 quarter. For the fiscal year ended March 2006, revenues increased $26.8 million (32%), from $82.6 million in fiscal 2005 to $109.5 million in fiscal 2006. Net income grew from $480k to $10.8 million.

HILAND HOLDINGS GP (HPGP)

Company Overview
(from Prospectus):

Our cash generating assets consist of our ownership interests in Hiland Partners, LP, a publicly traded Delaware limited partnership (NASDAQ: HLND). Hiland Partners is principally engaged in gathering, compressing, dehydrating, treating, processing and marketing natural gas, fractionating natural gas liquids, or NGLs, and providing air compression and water injection services for oil and gas secondary recovery operations. Our aggregate ownership interests in Hiland Partners consist of the following: the 2% general partner interest in Hiland Partners; all of the incentive distribution rights in Hiland Partners; and 1,301,471 common units and 4,080,000 subordinated units of Hiland Partners, representing a 57.0% limited partner interest in Hiland Partners.


Offering:
7 million common units at a $17.50-19.50 range per unit. At mid-range, the company expects a net raise of $119.9 million. This will be used to repay $35.0 million of outstanding debt of the general partner of Hiland Partners, plus accrued interest, and to make a $84.9 million distribution to the Contributing Parties.

Cash Distribution:
Unitholders will receive from the company quarterly cash distributions: "Based upon Hiland Partners' current quarterly distribution level, Hiland Partners' current capital structure and our anticipated expenses, we expect that our initial quarterly cash distribution will be $0.185 per common unit, or $0.74 per common unit on an annualized basis." See the prospectus for a detailed discussion of the partnership structure.

Lead Underwriters
: Lehman Brothers, AG Edwards

HOME DIAGNOSTICS (HDIX)

Company Overview (from Prospectus):

We are a developer, manufacturer and marketer of blood glucose monitoring systems and disposable supplies for diabetics. Our blood glucose monitoring systems offer diabetics performance and features that are comparable to or better than our competitors’ products, in most cases at a substantially lower price. Our products are sold by leading food and drug retailers, mass merchandisers, distributors and mail service providers in the United States and internationally.

Offering: 6.6 million shares, half of which are being offered by selling shareholders. The offering range is $14-16 per share. At mid-range, the company expects a net raise of $44 million. $10.4 million is earmarked to redeeming Series F stock, $5.8 million to complete the purchase of manufacturing equipment, $2.2 million to repay debt and the rest for working capital.

Lead Underwriters:JP Morgan, Piper Jaffray, Deutsche Bank, William Blair

Financial Highlights: 2005 net income was $5.9 million on net sales of $100.2 million. For the first six months of the year, net income was $3.2 million on $55.7 million net sales and $2.1 million net income on $47 million net sales for 2006 and 2005 respectively.

PORTER BANCORP (PBIB)

Company Overview (from Prospectus):

We are a bank holding company headquartered in Louisville, Kentucky and the seventh largest independent banking organization domiciled in the state based on total assets. Through our subsidiary PBI Bank, we operate banking offices in Louisville and 12 other Kentucky communities located along central Kentucky’s Interstate 65 corridor, which runs through Louisville and central Kentucky and connects Chicago and Indianapolis to Nashville and Atlanta.

Offering:1.55 million shares (300 k from selling shareholders) at a range of $23-26 per share. At mid-range, net proceeds are estimated to be $27.6 million. The funding will be used for general corporate uses.

Underwriters:
Sandler O'Neill; Keefe Bruyette & Woods

Financial Highlights:
At the end of June, the company had total assets of $1.0 billion, total loans of $814.5 million, total deposits of $812.2 million and stockholders’ equity of $75.5 million. Until 2006, the company was an S corporation; they currently expect to pay quarterly dividends. For the first two quarters of the year, dividends were $0.20 per share.

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Source: Investment Bankers Back With A Vengeance: This Week's IPO Calendar