This Week's IPOs Part I: BladeLogic, lululemon athletica, Monotype Imaging, Perfect World, ImaRx Therapeutics

IPOs on tap for this week include: BladeLogic (BLOG), a provider of data center automation software; lululemon athletica (LULU), designer and retailer of technical athletic apparel; Monotype Imaging Holdings (TYPE), a global provider of text imaging solutions; Perfect World Co. (PWRD), a Chinese online game developer and operator; and ImaRx Therapeutics (IMRX) a biopharmaceutical company that develops therapies for vascular disorders is reissuing with revised terms.

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

BLADELOGIC, INC. (BLOG)
Business Overview (from prospectus)

We are a provider of leading data center automation software to enterprises, service providers, government agencies and other organizations in North America, Europe and Asia. Our products and services enable organizations of any size to address the full lifecycle of data center management using one integrated solution for provisioning, change, administration and compliance across complex, distributed server and application environments.

Offering: 5.0 million shares at $12.00 - $14.00 per share. Net proceeds of approximately $45.4 million will be used to redeem and cancel all of the shares of the company's Series A redeemable preferred stock to be outstanding immediately upon the closing of this offering; and for general corporate purposes, including the potential funding of strategic acquisitions or investments, the continued expansion of sales and marketing activities and the expanded funding of research and development efforts.

Lead Underwriters: Morgan Stanley, Merrill Lynch

Financial Highlights:

Total revenue increased $6,244,000, or 34%, for the nine months ended September 30, 2006 [to $24,568,000] as compared to the twelve months ended December 31, 2005 [from $18,324,000]... Cost of revenue increased to $3,912,000 in 2006 as compared to $3,668,000 in 2005... Gross profit on license revenue remained consistent at 97%. Gross profit on services revenue improved by four percentage points as a result of increased maintenance revenue, without a corresponding increase in support costs.

lululemon athletica inc. (LULU)
Business Overview (from prospectus)

We believe lululemon is one of the fastest growing designers and retailers of technical athletic apparel in North America. Our yoga-inspired apparel is marketed under the lululemon athletica brand name. We believe consumers associate our brand with highly innovative, technically advanced premium apparel products. Our products are designed to offer superior performance, fit and comfort while incorporating both function and style. Our heritage of combining performance and style distinctly positions us to address the needs of female athletes as well as a growing core of consumers who desire everyday casual wear that is consistent with their active lifestyles. We also continue to broaden our product range to increasingly appeal to male athletes. We offer a comprehensive line of apparel and accessories including fitness pants, shorts, tops and jackets designed for athletic pursuits such as yoga, dance, running and general fitness. As of July 1, 2007, our branded apparel was principally sold through our 59 stores that are primarily located in Canada and the United States. We believe our vertical retail strategy allows us to interact more directly with and gain insights from our customers while providing us with greater control of our brand.

Offering: 18.2 million shares at $10.00 - $12.00 per share. Net proceeds of approximately $18.4 million will be used to "fund new store openings and working capital, and for other general corporate purposes, which may include general and administrative expenses, and potential acquisitions of franchises."

Lead Underwriters: Goldman Sachs, Merrill Lynch

Financial Highlights:

Net revenue increased $64.8 million, or 77.0%, to $148.9 million for fiscal 2006 from $84.1 million for fiscal 2005...Gross profit increased $33.0 million, or 76.9%, to $76.0 million for fiscal 2006 from $43.0 million for fiscal 2005...Selling, general and administrative expenses increased $26.1 million, or 98.9%, to $52.5 million for fiscal 2006 from $26.4 million for fiscal 2005...Net income increased $6.3 million to $7.7 million for fiscal 2006 from $1.4 million for fiscal 2005.

MONOTYPE IMAGING HOLDINGS INC. (TYPE)
Business Overview (from prospectus)

We are a leading global provider of text imaging solutions. Our technologies and fonts enable the display and printing of high quality digital text. Our software technologies have been widely deployed across, and embedded in, a range of consumer electronic, or CE, devices, including laser printers, digital copiers, mobile phones, digital televisions, set-top boxes and digital cameras, as well as in numerous software applications and operating systems. In the laser printer market, we have worked together with industry leaders for over 15 years to provide critical components embedded in printing standards. Our scaling, compression, text layout, color and printer driver technologies solve critical text imaging issues for CE device manufacturers by rendering high quality text on low resolution and memory constrained CE devices. We combine these proprietary technologies with access to over 9,000 typefaces from a library of some of the most widely used designs in the world, including popular names like Helvetica and Times New Roman. We also license our typefaces to creative and business professionals through custom font design services, direct sales and our e-commerce websites fonts.com, itcfonts.com, linotype.com and faces.co.uk, which attracted more than 20 million visits in 2006 from over 200 countries.

Offering: 11.0 million shares at $13.00 - $15.00 per share. Net proceeds of approximately $73.6 million will be used to

repay in full our term loan arranged by D.B. Zwirn, or the Second Lien Credit Facility, in the amount of $71.4 million, which includes $1.4 million in prepayment penalties; and to redeem the shares of redeemable preferred stock issuable upon conversion of the convertible preferred stock from TA Associates, D.B. Zwirn and the Investing Employees in the amount of $9.7 million. We intend to use the balance of the net proceeds of this offering for working capital and other general corporate purposes, which may include further paydowns of our indebtedness.

Lead Underwriters: Banc of America, Jefferies

Financial Highlights:

Revenue was $73.8 million and $86.2 million for 2005 and 2006, respectively, an increase of $12.4 million, or 16.8%...Cost of revenue, excluding amortization of acquired technology, was $9.5 million and $8.3 million for 2005 and 2006, respectively, a decrease of $1.2 million, or 12.7%...Marketing and selling expense was $11.7 million and $14.9 million in 2005 and 2006, respectively, an increase of $3.2 million, or 27.3%... Research and development expense was $10.7 million and $13.8 million in 2005 and 2006, respectively, an increase of $3.1 million, or 29.5%.

PERFECT WORLD CO., LTD. (PWRD)
Business Overview (from prospectus)

We are a leading online game developer and operator in China as measured by the popularity of our games in China in 2006, according to a report published by International Data Corporation, or IDC, a leading market research firm. We primarily develop three-dimensional, or 3D, online games based on our proprietary Angelica 3D game engine and game development platform. Our strong technology and creative game design capabilities, combined with our extensive local knowledge and experience, enable us to frequently and rapidly introduce popular games designed to cater to changing customer preferences and market trends in China. In 2006, we launched our first three self-developed 3D massively multiplayer online role playing games, or MMORPGs, namely, Perfect World, Legend of Martial Arts and Perfect World II. In the first quarter of 2007, these games recorded approximately 237,000 average concurrent users in China. We launched a new self-developed 3D MMORPG, Zhu Xian, in late May 2007.

Offering: 11.8 million shares at $12.00 - $14.00 per share. Net proceeds of approximately US$106.2 million will be used "to expand our research and development efforts and use the remaining amount for other general corporate purposes, including capital expenditures and funding possible future acquisitions. "

Lead Underwriters: Morgan Stanley, Credit Suisse

Financial Highlights:

We generated revenues of RMB99.4 million (US$12.9 million) in 2006, of which RMB98.4 million (US$12.8 million) was generated from our online game operations...We were in the process of developing our game engine, game development platform and our first MMORPG, Perfect World, in 2005. Accordingly, we did not generate any revenues in 2005...Our cost of revenues amounted to RMB24.6 million (US$3.2 million), or 24.8% of our revenues, in 2006... In 2006, our gross profit amounted to RMB74.8 million (US$9.7 million), and our gross margin was 75.2%...As a result of the cumulative effect of the foregoing factors, we had a net loss of RMB27.9 million (US$3.6 million) in 2006, compared to a net loss of RMB29.4 million in 2005.

ImaRx THERAPEUTICS (IMRX) (revised terms)
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 $5.00 per share. Net proceeds of approximately $12.3 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.