In the six months since Facebook’s initial public offering in May, Goodwin Procter attorneys have represented the issuing company or the underwriters in the debuts of the following technology and life sciences companies:
- Intercept Pharmaceuticals (ICPT): Goodwin advised the underwriters, led by client Bank of America Merrill Lynch as the book-running manager, in the October IPO by this New York-based developer of therapeutics for chronic liver diseases. Intercept increased its offering to 5 million shares at $15 from its original plan to offer 4.3 million shares at between $13-$15. Following the first day of trading, the underwriters exercised their option to buy additional shares, resulting in a total sale of 5,750,000 shares at $15. Intercept expects the offering to result in net proceeds of $78.7 million to the company. To read more, click here.
- FleetMatics (FLTX): Firm client Fleetmatics Group PLC, a leading global provider of commercial fleet management solutions, closed on an initial public offering of common stock in October. The stock was offered at $17 per share, and the net proceeds from the sale were approximately $94.3 million. Barclays and B of A Merrill Lynch acted as joint book-running managers for the offering; RBC Capital Markets, Stifel Nicolaus Weisel and William Blair acted as co-managers. To read more, click here.
- Regulus Therapeutics (RGLS): Goodwin advised a syndicate of underwriters, including Lazard Capital Markets, Cowen and Company and BMO Capital Markets, in October’s $51 million IPO for Regulus, a biopharmaceutical company leading the discovery and development of innovative medicines targeting microRNAs. To read more, click here.
- Trulia (TRLA): September’s $117.3 million IPO for the web-based real estate information company was one of the strongest stock debuts in months. Goodwin represented the underwriting syndicate led by J.P. Morgan Securities and Deutsche Bank Securities and including RBC Capital Markets, Needham & Company and William Blair & Company. The offering priced above the initial price range of $14-16 per share, at $17, and closed at $24 after the first day of trading. To read more, click here.
- Eloqua (ELOQ): Goodwin client Eloqua, an automated marketing and demand generation software firm, closed its $105 million initial public offering in August after the underwriters exercised their option to purchase the “green shoe” shares. The opening trade was at $12.05, and by the end of the week the stock was trading at $14.95, valuing the company at more than $450 million.
- E2open (EOPN): In the second post-Facebook tech IPO, E2open, a leading provider of supply-chain software solutions, priced on July 25. Goodwin represented B of A Merrill Lynch as lead underwriter; co-underwriters included William Blair & Company, Pacific Crest Securities, Canaccord Genuity and Needham & Company. The IPO resulted in net proceeds of $70 million.
- Exa (EXA): Firm client Stifel Nicolaus Weisel, in its role as sole book-running manager, underwrote Exa’s IPO. The shares priced on June 27, making the offering the first tech IPO since Facebook’s debut in May. The offering resulted in net proceeds of $38.8 million to Exa and $19.4 million to existing stockholders associated with Fidelity.
Goodwin attorneys are also advising issuers or underwriters in a number of filed, pending IPOs for technology and life sciences companies, including Gigamon, GlobeImmune Inc., Rib-X Pharmaceuticals Inc., BioAmber Inc., Mascoma Corp. and Planet Payment Inc.