Generac Holdings shares dip in IPO debut
Shares of Generac Holdings are dipping after its pared-back IPO raised $244.4 million.
The Waukesha, Wis., generator manufacturer sold 18.8 million shares for $13 apiece — below the $15 to $17 per share it had hoped to fetch.
Weakness in the IPO market due to worries over the pace of the economic recovery are forcing underwriters to delay or cut deals down to get them done.
Generac Holdings Inc. shares slipped 7 cents to $12.93 in morning trading on the New York Stock Exchange under the symbol “GNRC.” [Read the full article]
Three companies, including QuinStreet Corp., an Internet marketing company whose fast-growing sales made it a standout among this month’s crop of IPOs, managed to go public Thursday after slashing prices on their offerings.
QuinStreet shares were little changed Thursday after the Foster City, Calif. company raised about $140 million after expenses by selling 10 million shares for $15 in its initial public offering. It had hoped its stock which fetch between $17 to $19.
Worries about European debt, Chinese lending and U.S. unemployment and government policy are roiling stock markets, making it difficult for companies to raise money from risk-shy investors.
Companies that do go public are cutting prices or the amount of stock they’re offering to get their deals done.
Generator manufacturer Generac Holdings Inc. raised about $244.4 million, selling 18.8 million shares for $13 apiece. [Read the full article]
Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) has filed a preliminary prospectus supplement to its amended and restated short form base shelf prospectus with the securities commissions in each of the provinces of Canada, other than Quebec, Newfoundland and Labrador and Prince Edward Island, and has made a similar filing with the United States Securities and Exchange Commission in connection with a public offering of its common shares to raise gross proceeds of approximately US$100 million (the “Offering”).
The company will also grant to the underwriters of the Offering an option, exercisable for a period of 30 days following the closing of the Offering, to purchase additional common shares for additional gross proceeds of up to approximately US$15 million. [Read the full article]
The McClatchy Company (NYSE: MNI) today announced that it has closed its offering of $875 million aggregate principal amount of its 11.50% Senior Secured Notes due 2017 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act.
Pat Talamantes, McClatchy’s CFO said, “We are pleased to have completed this offering and appreciate the confidence that investors have demonstrated in our company. [Read the full article]