Seeking Alpha

IPOdesktop's  Instablog

IPOdesktop
  • on IPO Analysis
1,554 Followers
8 Following
Send Message
During the IPO season Francis Gaskins, editor of IPOdesktop.com, regularly appears on CNBC TV, Bloomberg, thestreet.com & other financial cable channels. On the day of the Visa IPO he appeared on four cable TV financial shows including Bloomberg & CNBC. Over the past five years he has... More
My company:
IPOdesktop
My blog:
IPOdesktop
  • Why Medley Capital's IPO (MCC) priced below range 0 comments
    Jan 20, 2011 3:07 PM | about stocks: GBDC, TCRD, GLAD
    Today Medley Capital today priced its IPO at $11, down 18.5% from the range mid-point of $13.50.  MCC is trading now up 9%. 

    Just as $13.50 was too high, $11 was too low on a valuation basis.

    At $13.50 MCC was trying to get a 1.8% premium to net asset value.  That didn't work because typically Business Development Corps (BDC's) don't get a premium to net asset value. 

    For example, Golub Capital (GBDC), THL Credit (TCRD) and Gladstone Cap (GLAD) were selling yesterday at discounts to net asset value of 0%, -2% and –2% respectively.




    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
    Themes: IPO Analysis Stocks: GBDC, TCRD, GLAD
Back To IPOdesktop's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Full index of posts »
Latest Followers

StockTalks

  • FACEBOOK conference call 1pm pacific, Wed, May 16th http://ipopremium.com 1pm pacific, May 16 Wednesday, May 16, 1pm pacific time.
    May 15, 2012
  • Bloomberg TV at 1pm eastern today, talking about Carlyle & it won't be positive. You can watch it on your Iphone
    May 2, 2012
  • Scheduled to be on CNBC today at 10:40am eastern, talking about the IPO market.
    Apr 20, 2012
More »

Latest Comments


Most Commented
Posts by Themes
Alternative Energy, auto sales, Bridgepoint Education, Broadcasting - Radio, china, China, China , China Digital Communications, China IPOs, china stocks, commercial real estate, demographics, Earnings, Economy, Forex, Green Transportation, Green Transportation , hotels, Interest Rates and Bonds, IPO, ipo, IPO Analysis, IPO analysis, IPO analysis , IPO Anaysis, ipo-analysis, IPOanalysis, IPOs, ipos, lodging, Movie Distribution, Movie Studios, private equity, Private Equity, Rosetta Stone, Services, travel, United States
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.