All quotations are from the companies' most recent S-1 filings with links provided.
Aegerion Pharmaceuticals is an emerging biopharmaceutical company focused on the development and commercialization of therapeutics to treat cardiovascular and metabolic disease. Our two product candidates are microsomal triglyceride transfer protein inhibitors that limit secretion of cholesterol and triglycerides, collectively referred to as lipids, from the intestine and liver and have demonstrated in humans an ability to significantly reduce low-density lipoprotein cholesterol, or LDL-C. We believe these compounds have the potential to address significant unmet medical needs for patients who seek to lower their cholesterol levels, either on a stand-alone basis or in combination with existing therapies, such as statins and cholesterol absorption inhibitors.
Offering: 5.0 million shares at $12.00 - $14.00 per share. Net proceeds of approximately $57.5 million will be used to fund the continued clinical development of AEGR-733, AEGR-427 and for general corporate purposes.
Lead Underwriters: Lehman Brothers, CIBC World Markets
We did not recognize any revenue for the period from February 4, 2005 (Inception) to December 31, 2005 or the year ended December 31, 2006...Development expenses were $3.8 million for the year ended December 31, 2006, compared with $0.1 million for the period from February 4, 2005 (Inception) to December 31, 2005.... General and administrative expenses were $3.2 million for the year ended December 31, 2006, compared with $1.0 million for the period from February 4, 2005 (Inception) to December 31, 2005.
We are a development stage company whose goal is to become a leading ethanol producer in the United States. We are currently constructing two 115 Mmgy ethanol plants in the Midwestern corn belt. In addition, we expect to commence construction of a third 115 Mmgy ethanol plant later this year. At each location, Cargill, with whom we have an extensive relationship, has a strong local presence and, directly or through affiliates, owns adjacent grain storage facilities. Three similar sites are being developed in anticipation of the possible construction of additional plants. All six sites were selected primarily based on access to favorably priced corn as well as availability of rail transportation and natural gas. We ultimately expect to grow, at least in part, through acquisitions. However, in current market conditions, we believe it is more attractive financially to build rather than buy. We will continue to assess the build versus acquire trade-off as we consider initiating construction on one or more of our next three sites.
Offering: 9.5 million shares at $16.00-$18.00 per share. Net proceeds of approximately $147 million will be used to repay outstanding subordinated debt and to fund the equity portion of the construction costs of the Alta plant.
Lead Underwriters: J.P. Morgan, Citigroup
We are a new company with no material operating results to date.
BWAY HOLDING COMPANY (BWY)
Business Overview (from prospectus)
We are a leading North American manufacturer of general line rigid metal and plastic containers, and we estimate that we have a number one U.S. market share in plastic pails, steel paint cans, steel specialty cans, ammunition boxes, plastic tight-head containers and plastic paint bottles, and a number one Canadian market share in steel pails and plastic pails. These products together represented approximately 78% of our fiscal 2006 net sales. In fiscal 2006, our total net sales were $918.5 million, of which 60.2% were in our metal packaging segment and 39.8% were in our plastics packaging segment. On a pro forma basis for our acquisition of substantially all of the assets of Industrial Containers Ltd., or “ICL,” in July 2006, our fiscal 2006 net sales were $968.9 million, of which 58.5% were in our metal packaging segment, which includes aerosol cans, and 41.5% were in our plastics packaging segment. We believe that our metal and plastic products, which we manufacture in our 22 strategically located facilities across the United States and in Canada, are complementary and often serve the same customers.
Offering: 11.8 million shares at $16.00-$18.00 per share. The company will not receive any of the proceeds from the sale of shares by the selling stockholders.
Lead Underwriters: Goldman Sachs, Banc of America
The increase in metal packaging segment net sales for fiscal 2006 [$918.5 million] over fiscal 2005 [$829.1 million] is primarily related to net volume gains and to the ICL acquisition... The increase in cost of products sold, excluding depreciation and amortization, or “CPS,” for the metal packaging segment for fiscal 2006 [$796.4 million] over fiscal 2005 [$714 million] is primarily due to the net increase in metal packaging sales volume and to the ICL acquisition.
GEOVERA INSURANCE HOLDINGS, LTD (GEOV)
Business Overview (from prospectus)
We are a provider of specialty residential property insurance products. We focus on two lines of business, Specialty Homeowners and Residential Earthquake, in certain markets that we believe are suffering from short- and long-term dislocations and where we have strong underwriting expertise. We sell our Specialty Homeowners products primarily on a non-admitted, or excess and surplus lines, basis in hurricane-exposed states such as Florida, South Carolina and Texas, and our Residential Earthquake products primarily on an admitted basis in earthquake-prone states, such as California, Oregon and Washington. We primarily distribute our Specialty Homeowners products through a network of approximately 30 wholesale surplus lines brokers and our Residential Earthquake products through approximately 1,600 independent brokers and agents. Wholesale surplus lines brokers serve as intermediaries between non-admitted insurers and retail brokers and agents.
Offering: 5.9 million shares at $16.00-$18.00 per share. Net proceeds of approximately $29.2 million will be used to make contributions to the capital of the company's Insurance Subsidiaries and for other general corporate purposes, which may include technology infrastructure improvements, business development and marketing.
Lead Underwriters: J.P. Morgan, Merrill Lynch
Gross premiums written were $276.8 million for 2006, representing an increase of $20.9 million, or 8.2%, compared to $255.9 million for 2005...Net premiums written were $175.0 million for 2006, representing an increase of $31.2 million, or 21.7%, compared to $143.8 million for 2005...Net income for the year ended December 31, 2006 was $35.5 million, representing an increase of $21.0 million, compared to $14.5 million for 2005.