Nova Measuring Instruments Ltd. Prices Follow-on Public Offering

NovaMeasuring Instruments Ltd. (Nasdaq: NVMI), a provider of leading edge stand alone metrology and a market leader of integrated metrology solutions to the semiconductor process control market, today announced that it has priced a follow-on public offering of 3,850,000 ordinary shares at a price of $4.15 per ordinary share for gross proceeds of approximately $16.0 million. Nova expects net proceeds, after underwriting discounts and commissions and estimated offering expenses payable by Nova, of approximately $14.7 million. Nova has also granted to Needham & Company, LLC, the sole book running manager and Roth Capital Partners, LLC, the co-manager, in connection with the offering, a 30-day over-allotment option to purchase up to an additional 577,500 of its ordinary shares to cover over-allotments, if any, which would result in additional net proceeds of approximately $2.2 million if exercised in full. [Read the full article]

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Two IPOs expected to start trading Thursday were delayed as world financial markets continued to decline on concern about the pace of the global economic recovery — yet another sign of trouble for companies looking to sell shares to the public.

Insurer Patriot Risk Management Inc. and Penthouse magazine publisher FriendFinder Networks Inc. didn’t begin trading Thursday, as was widely expected. They join a growing list of companies that have delayed their offerings, or accepted a lower price for their shares, to get the deals done.

Earlier this week, investment bank Imperial Capital Group Inc. postponed its IPO, a person familiar with the offering told the Associated Press. In January, real estate investment trust Terreno Realty Corp. and China-based Daqo New Energy Corp., a solar energy company, shelved offerings.

“It’s looking more and more like it might be a bad sign,” said Nick Einhorn of Renaissance Capital, a Greenwich, Conn., IPO research firm. [Read the full article]

Netflix, Inc. (Nasdaq: NFLX) today announced the expiration and results of its exchange offer (the “Exchange Offer”) to exchange up to $200.0 million in aggregate principal amount of its 8.50% Senior Notes due 2017 that have been registered (the “Exchange Notes”) under the Securities Act of 1933, as amended, for the same principal amount of its outstanding 8.50% Senior Notes due 2017 (the “Original Notes”).  

The expiration for the Exchange Offer occurred at 5:00 p.m., New York City time, on January 29, 2010 and the settlement date of the Exchange Offer was February 4, 2010.  According to Wells Fargo Bank, National Association, the exchange agent for the Exchange Offer, the Company received valid tenders from holders of $200.0 million aggregate principal amount, or 100%, of Original Notes. [Read the full article]

EntreMed, Inc. (Nasdaq: ENMD) today announced that it completed a registered direct offering of 3,846,154 shares of its common stock, at a purchase price of $0.65 per share, to a single accredited institutional investor.  The sale resulted in gross proceeds to the Company of $2.5 million.  The terms of the purchase were set forth in a stock purchase agreement entered into by the parties on February 3, 2010. The per share purchase price reflects a 10% discount to the five-day average closing sale price ending on February 2, 2010.  

EntreMed plans to use the net proceeds of the offering, which are expected to be approximately $2.3 million after deducting the placement agent’s fee and estimated offering expenses payable by EntreMed, to further clinical development of its Aurora A/angiogenic kinase inhibitor, ENMD-2076, and for other general corporate purposes. [Read the full article]

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