This week's IPOs include: Dice Holdings (DHX), a provider of career websites for professional communities, focusing on highly skilled and highly qualified employees; ImaRx Therapeutics (IMRX) a biopharmaceutical company that develops therapies for vascular disorders; Limco Piedmont Inc. (LIMC) a provider of maintenance, repair and overhaul, or MRO, services and parts supply services to the aerospace industry; MF Global Ltd. (MF) a provider of execution and clearing services for exchange-traded and over-the-counter, or OTC, derivative products, as well as for non-derivative foreign exchange products and securities in the cash market; and Netezza Corporation (NZ) a leading provider of data warehouse appliances.

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

DICE HOLDINGS INC. (DHX)
Business Overview (from prospectus)

We are a leading provider of specialized career websites for select professional communities. We target employment categories in which there is a scarcity of highly skilled, highly qualified professionals relative to market demand. Our career websites serve as online marketplaces where employers and recruiters find and recruit prospective employees, and where professionals find relevant job opportunities and information to further their careers. Each of our career websites offers job listings, content, career development and recruiting services tailored to the specific needs of the professional community that it serves. Our largest websites by revenue are Dice.com, the leading career website in the United States for technology professionals, and eFinancialCareers.com, the leading global career website for capital markets and financial services professionals.

Offering: 16.7 million shares at $11.00 - $13.00 per share. Net proceeds of approximately $72.3 million will be used to repay debt.

Lead Underwriters: Credit Suisse, Morgan Stanley

Financial Highlights:

Our revenues were $30.5 million for the three months ended March 31, 2007 compared to $16.1 million for the same period in 2006, an increase of $14.5 million, or 90%...Our cost of revenues for the three months ended March 31, 2007 were $1.9 million compared to $1.1 million for the same period in 2006, an increase of $787,000, or 71%...Product development expenses for the three months ended March 31, 2007 were $980,000 compared to $434,000 for the same period of 2006, an increase of $546,000, or 126%.

ImaRx THERAPEUTICS (IMRX)
Business Overview (from prospectus)

We are a biopharmaceutical company developing and commercializing therapies for vascular disorders. Our research and development efforts are focused on therapies for stroke and other vascular disorders, using our proprietary microbubble technology to treat vascular occlusions, or blood vessel blockages, as well as the resulting ischemia, which is tissue damage caused by a reduced supply of oxygen. Our commercialization efforts are currently focused on our product approved by the U.S. Food and Drug Administration, or FDA, for the treatment of acute massive pulmonary embolism, or blood clots in the lungs.

Offering: 3.0 million shares at $6.50 - $7.50 per share. Net proceeds of approximately $17.7 million will be used for R&D activities, commercialization of new products, and for general corporate purposes.

Lead Underwriters: Maxim Group LLC, I-Bankers Securities

Financial Highlights:

Our total revenues increased from approximately $0.6 million in 2005 to $1.3 million in 2006, primarily as a result of our commencement of sales of Abbokinase product which accounted for $0.5 million of our revenue in 2006...Cost of product sales was approximately $0.2 million in 2006. There was no cost of product sales for the year ending December 31, 2005 as we did not acquire our commercialized product until April 2006 and did not commence product sales until October 2006...Research and development expenses increased from approximately $3.6 million in 2005 to approximately $8.4 million in 2006.

LIMCO-PIEDMONT INC. (LIMC)
Business Overview (from prospectus)

We provide maintenance, repair and overhaul, or MRO, services and parts supply services to the aerospace industry. Our four Federal Aviation Administration, or FAA, certified repair stations provide aircraft component MRO services for airlines, air cargo carriers, maintenance service centers and the military. Two of these repair stations are located in Tulsa, Oklahoma, and the other two are located at our Kernersville and Winston-Salem, North Carolina facilities. In conjunction with our MRO services we are also an original equipment manufacturer, or OEM, of heat transfer equipment for airplane manufacturers and other selected related products. Our parts services division offers inventory management and parts services for commercial, regional and charter airlines and business aircraft owners.

Offering: 4.0 million shares at $9.50 - $11.50 per share. Net proceeds of approximately $32.9 million will be used for general corporate purposes, including working capital and to repay the $4.0 million of debt that the company owes to Bank Leumi USA .

Lead Underwriters: Oppenheimer & Co., Stifel Nicolaus

Financial Highlights:

Total revenues increased to $59.0 million for the year ended December 31, 2006 from $31.7 million for the year ended December 31, 2005, an increase of 86.4%...Cost of revenues increased to $45.0 million for the year ended December 31, 2006 from $24.3 million for the year ended December 31, 2005, an increase of 85.6%...Selling and marketing expenses increased to $2.3 million for the year ended December 31, 2006 from $1.4 million for the year ended December 31, 2005, an increase of 67.5%...Our operating income increased to $7.3 million for the year ended December 31, 2006 from $3.2 million for the year ended December 31, 2005, an increase of 127.2%.

MF GLOBAL LTD. (MF)
Business Overview (from prospectus)

We are the leading broker of exchange-listed futures and options in the world. We provide execution and clearing services for exchange-traded and over-the-counter, or OTC, derivative products, as well as for non-derivative foreign exchange products and securities in the cash market. We provide our clients with access to many of the largest and fastest growing financial markets throughout the world.

Offering:97.4 million shares at $36.00 - $39.00 per share. Net proceeds will be used to repay debt.

Lead Underwriters: Citi, J.P. Morgan, Lehman Brothers

Financial Highlights:

Total revenues increased $3,123.9 million, or 120.1% during the same period, to $5,725.5 million for fiscal 2007 from $2,601.6 million for fiscal 2006...Net income increased $128.2 million, or 214.4%, to $188.0 million for fiscal 2007 from $59.8 million for fiscal 2006...Execution and clearing fees increased $237.0 million, or 51.1%, to $700.4 million for fiscal 2007 from $463.4 million for fiscal 2006.

NETEZZA CORPORATION (NZ)
Business Overview (from prospectus)

Netezza is a leading provider of data warehouse appliances. Our product, the Netezza Performance Server, or NPS, integrates database, server and storage platforms in a purpose-built unit to enable detailed queries and analyses on large volumes of stored data. The results of these queries and analyses, often referred to as business intelligence, provide organizations with actionable information to improve their business operations. We designed our NPS data warehouse appliance specifically for analysis of terabytes of data at higher performance levels and at a lower total cost of ownership with greater ease of use than can be achieved via traditional data warehouse systems. Our NPS appliance performs faster, deeper and more iterative analyses on larger amounts of detailed data, giving our customers greater insight into trends and anomalies in their businesses, thereby enabling them to make better strategic decisions.

Offering: 9.0 million shares at $9.00 - $11.00 per share. Net proceeds of approximately $81.7 million will be used for working capital and other general corporate purposes, including the development of new products, sales and marketing activities, capital expenditures and the costs of operating as a public company. Net proceeds will also be used to repay debt.

Lead Underwriters: Credit Suisse, Morgan Stanley

Financial Highlights:

Total revenue increased $25.7 million, or 48%, to $79.6 million in fiscal 2007 from $53.9 million in fiscal 2006...Total gross margin increased to 60% in fiscal 2007 from 58% in fiscal 2006. Product gross margin increased to 59% in fiscal 2007 from 58% in fiscal 2006...Research and development expenses increased $1.3 million, or 8%, to $18.0 million in fiscal 2007 from $16.7 million in fiscal 2006.

SA Editor
Abbi Adest

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