3 IPOs set to get out the door
This week's lineup includes a company that treats sexual dysfunction, a former software heavyweight and a supplier of defense equipment.
NEW YORK (CNNMoney.com) - Investment bankers hope to raise as much as $376 million by bringing three companies public this week. QuatRx, a pharmaceutical company, is expected to offer 6 million shares Tuesday at an estimated price of $11 to $13 a share. The Ann Arbor, Mich.-based company plans to list on the Nasdaq under the symbol "QTRX."
Products in the company's pipeline include fispemifene, a drug that treats testosterone deficiency in aging men - a condition that can include symptoms such as sexual dysfunction. The drug is in a mid-stage clinical trial. Other products the company is developing include treatments for estrogen deficiency in aging women as well as two cholesterol drugs. QuatRx plans to use the proceeds of the offering to expand its business and continue development of its products. The company has an accumulated deficit of $67.4 million and expects to keep increasing losses over the next several years. It has about 58 employees. Corel, once one of Canada's largest software providers, is set to list on the Nasdaq under the symbol "CREL." The company, whose product line includes WordPerfect Office Suite, is expected to sell 8 million shares at around $18 to $20 a share Tuesday. Corel is owned by private-equity firm Vector Capital and based in Ottawa, Ontario. The company employs about 700 workers. (Full story.) CPI International, a company that makes microwave and radio frequency products, plans to sell about 7.1 million shares Thursday at $16 to $18 a share. The company expects to list on the Nasdaq under the symbol "CPII." Palo Alto, Calif.-based CPI International makes broadcast and wireless components for the military industry. Its products are also used for communications, medical and scientific purposes. The company plans to use money raised in the offering to pay back the significant amount of debt it has incurred. CPI International is owned by private-equity firm The Cypress Group, which will own 55.5 percent of the company following the offering. The company has posted a net loss for the past five fiscal years, except for in 2003 and 2005, and has about 1,670 employees. -------------- Click here for the latest market news. |
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