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Complete IPO Calendar

THREE PARTNERSHIPS

Kinder Morgan (NYSE:KMI) $2.2 billion IPO with a market capitalization of $19.4 billion at the price range mid-point of $27.50, scheduled for Friday, February 11, 2011. KMI owns 100% of the general partner interests of KMP ($22.5 billion market capitalization), including all the incentive distribution rights.

KMI is similar to Targa Resources Investments (NYSE:TRGP), another private equity-backed,owner of a similar but much smaller general partnership that IPO’ed December 7, 2010 and is up 35%. At the price range mid-point of $27.50 KMI is priced at a discount to TRGP

Aveon Group L.P. (The) (AVO) $236mm IPO with a market capitalization of $236 million at the price range mid-point of $15, scheduled for Tuesday, February 8, 2011. A newly formed investment management firm focused on acquiring controlling interests in the general partners or managing members of a diversified group of hedge funds. Initial affiliates includes nine hedge fund general partners or “manager affiliates,” currently managing 12 investment funds. Speculative at the price range mid-point.

Summit Hotel Properties (NYSE:INN) $265mm IPO with a market capitalization of $363 million at the price range mid-point of $11.50, scheduled for the week of February 7, 2011. An ‘up REIT” putting existing properties into an IPO to use proceeds to pay debt. The problem is that the projected dividend rate is to be generated from ‘financing activities’ not operations -- not good for public investors.

TWO BIOLOGY
Gevo (NASDAQ:GEVO) $100mm IPO with a market capitalization of $363 million at the price-range mid-point of $14, scheduled for Wednesday, February 9, 2010. A true development stage biofuels company that’s run out of money . Made an acquisition of an ethanol production facility in September 2010 that losing money. Looks like a poor IPO investment at the price range-midpoint.

Fluidigm (NASDAQ:FLDM) $75mm IPO with a market capitalization of $270 million at the price range mid-point of $14.50, scheduled for Thursday, February 10, 2010. Enables genetic analysis not previously available in many cases. Has sold to over 200 customers in 20 countries worldwide. Sales increased 40% for the nine months ended September 30, 2010 compared to the year earlier period, losses increased 14% to $16 million. 66% gross margin.

THREE MEDICAL
Clarus Therapeutics (CLRS) $60mm IPO with a market capitalization of $217 million at the price range mid-point of $12, scheduled for Tuesday, February 8, 2011. Pharmaceutical company using proceeds to begin stage 3 clinical trials. Losing money at a high rate relative to the projected market capitalization. Very speculative at the price range mid-point.

IASO Pharma (IASO) $20mm IPO with a market capitalization of $34 million at the price range mid-point of $5, scheduled for the week of February 7, 2011. Very speculative. Small biopharmaceutical company priced at 3x book value. Losing a lot of money compared to the projected market capitalization.

Kips Bay Medical (NASDAQ:KIPS) $25 million IPO with a market capitalization of $147 million at the price range mid-point of $9, scheduled for Friday February 11, 2011. Money losing medical device company working on clinical trials, with no sales. Very speculative at the price range mid-point.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: 8 New IPOs This Week