This Week's IPOs Part II: Pinnacle Gas Resources, Solera Holdings, TomoTherapy Inc.

Three more IPOs on deck for this week: Pinnacle Gas Resources, an independent natural gas exploration company; Solera Holdings (SLH), a software company servicing the automotive insurance claims industry; TomoTherapy Inc (TTPY), developer and manufacturer of the Hi Art system, an advanced radiation therapy system for cancer treatment.

All quotations are from the companies' most recent S-1 filings with links provided.

PINNACLE GAS RESOURCES (PINN)
Business Overview (from prospectus)

We are an independent energy company engaged in the acquisition, exploration and development of domestic onshore natural gas reserves. We currently focus our efforts on the development of coalbed methane, or CBM, properties located in the Rocky Mountain region, and we are a substantial holder of CBM acreage in the Powder River Basin. We have assembled a large, predominantly undeveloped CBM leasehold position, which we believe positions us for significant long-term growth in production and proved reserves. In addition, we own over 94% of the rights to develop conventional and unconventional oil and gas in zones below our existing CBM reserves. Substantially all our undeveloped acreage as of December 31, 2006 was located on the northern end of the Powder River Basin in northeastern Wyoming and southern Montana.

Offering: 3.8 million shares at $10.00 - $12.00 per share. Net proceeds of approximately $37.7 million will be used to pay down debt, for capital expenditures and infrastructure development.

Lead Underwriters: Friedman Billings, A.G. Edwards

Financial Highlights:

Revenue from gas sales decreased $1.9 million in 2006 to $12.2 million, a 14% decrease compared to 2005... Lease operating expenses increased $1.2 million in 2006 to $3.0 million, a 68% increase compared to 2005...Net loss attributable to stockholders for the year ended December 31, 2006 was $17.2 million, or $0.87 per diluted share, on total revenue of $19.9 million.

SOLERA HOLDINGS (SLH)
Business Overview (from prospectus)

We are the leading global provider of software and services to the automobile insurance claims processing industry. Our customers include more than 900 automobile insurance companies, including nine of the ten largest automobile insurance companies in Europe and each of the ten largest automobile insurance companies in North America. We also provide our software and services to over 33,000 collision repair facilities, 7,000 independent assessors and 3,000 automotive recyclers.

Offering: 21.9 million shares at $15.00 - $17.00 per share. Net proceeds of approximately $279.6 million will be used to repay debt and to finance costs related to the company's amended and restated senior credit facility.

Lead Underwriters: Goldman Sachs, J.P. Morgan

Financial Highlights:

Our EMEA revenues grew $16.3 million, or 7.2%, to $243.3 million...The $12.5 million increase in operating expenses [from $117,361,000 in 2005 to $129,834,000 in 2006] was due to an increase of approximately $7.5 million in costs of customer support, operations, and database development personnel and approximately $5.0 million as a result of the inclusion of a full twelve months of operations of our Spanish subsidiary, which we began consolidating in May 2005.

TOMOTHERAPY INC (TTPY)
Business Overview (from prospectus)

We have developed, manufacture and sell the Hi Art system, an advanced and versatile radiation therapy system for the treatment of a wide variety of cancers. The Hi Art system precisely delivers radiation with sub-millimeter accuracy to kill cancer cells while reducing radiation exposure to surrounding healthy tissue, which we believe can lead to improved patient outcomes.

Offering: 10.9 million shares at $15.00 - $17.00 per share. Net proceeds of approximately $150.0 million will be used to expand marketing efforts, increase R&D programs, expand international service and support and for general corporate purposes.

Lead Underwriters: Merrill Lynch, Piper Jaffray

Financial Highlights:

Revenue increased from $75.8 million for the year ended December 31, 2005 to $156.1 million for the year ended December 31, 2006, an increase of $80.3 million or 106.1%...Cost of revenue increased from $50.0 million for the year ended December 31, 2005 to $102.7 million for the year ended December 31, 2006, an increase of $52.6 million or 105.1%...Research and development expenses increased from $11.4 million for the year ended December 31, 2005 to $21.4 million for the year ended December 31, 2006, an increase of $10.0 million or 88.2%... Gross profit increased from 33.9% to 34.2%.