The following IPOs are expected to price this week:
Cancer Genetics (CGIX), which offers personalized genomic tests to improve the diagnosis and treatment of cancer, plans to raise $48 million by offering 4.0 million shares at a price range of $11.00 to $13.00. At the midpoint of the proposed range, Cancer Genetics would command a market value of $112 million. Cancer Genetics, which was founded in 1999, booked $3 million in sales over the last 12 months. The Rutherford, NJ-based company plans to list on the NASDAQ under the symbol CGIX. William Blair and Baird are the joint bookrunners on the deal.
Facebook (FB), which operates the world's leading social networking platform, plans to raise $10.6 billion by offering 337.4 million shares at a price range of $28.00 to $35.00. At the midpoint of the proposed range, Facebook would command a market value of $86.2 billion. Facebook, which was founded in 2004, booked $4.0 billion in sales over the last 12 months. The Menlo Park, CA-based company plans to list on the NASDAQ under the symbol FB. Morgan Stanley (MS), J.P. Morgan (JPM), Goldman Sachs (GS) and BofA Merrill Lynch (BAC) are the joint bookrunners on the deal.
Loyalty Alliance Enterprise (LAEC), a provider of mobile direct marketing and customer loyalty solutions in China, plans to raise $36 million by offering 5.1 million ADSs at a price range of $6.00 to $8.00. At the midpoint of the proposed range, Loyalty Alliance Enterprise would command a market value of $105 million. Loyalty Alliance Enterprise, which was founded in 2009, booked $31 million in sales over the last 12 months. The Hong Kong-based company plans to list on the NASDAQ under the symbol LAEC. Macquarie Capital and Needham & Co. are the joint bookrunners on the deal. Please note: Cut price on 5/11/12. Previous terms (4/24/12): 5.1mm ADSs at $12-$14.
Last week, there were 5 IPO pricings. Ignite Restaurant Group (IRG), which operates the Joe's Crab Shack and Brick House Tavern + Tap restaurant brands, was the week's winner, ending up 22% from its IPO price.
