United IPO raises $126M
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June 7, 2001: 5:46 p.m. ET
Surgery center operator's shares sell at $14; Alliance Data raises $156M
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NEW YORK (CNNfn) - United Surgical Partners International, a surgery center operator, raised $126 million Thursday ahead of its initial public offering, while Alliance Data Systems Corp. came in at the low end.
Dallas-based United Surgical sold 9 million shares at $14 each, within its $13-to-$15 range, via lead underwriter Credit Suisse First Boston.
United Surgical operates surgery centers and private surgical hospitals in the United States, Spain, and the United Kingdom. The firm has ownership interests in 27 U.S. surgery centers and one private surgical hospital while also managing five U.S. surgery centers. Such facilities cater to patients that do not require extended hospital stays.
United Surgical plans to trade under the Nasdaq symbol "USPI."
Alliance Data Systems Corp. raised $156 million when it sold 13 million shares at $12 each, the bottom of its $12-to-$14 range, via Bear Stearns and Merrill Lynch.
Dallas-based Alliance provides electronic transaction, credit and marketing services to retail firms such as the Limited Inc. (LTD: Research, Estimates). Alliance, a business-to-consumer firm, originally filed in January 2000 for an IPO that was expected to raise $300 million. Alliance plans to trade under the New York Stock Exchange Symbol "ADS."
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