CMDX - Chemdex, another CMGI gem Message Board

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Technology Stocks : CMDX - Chemdex, another CMGI gem

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To: dk10438 who wrote (28)	7/27/1999 12:38:00 PM
From: Robert Rose	of 200

Chemdex IPO may open strongly Price rises 50 percent from original range By Steve Gelsi, CBS MarketWatch Last Update: 11:55 AM ET Jul 27, 1999 Movers & Shakers NEW YORK (CBS.MW) -- Chemdex's $120 million IPO will likely open strongly after the Internet health company priced 50 percent above its original range. Palo-Alto-based Chemdex (CMDX: news, msgs) sells e-commerce solutions for the life sciences industry. It rang up a loss of $8.5 million on $300,000 revenue last year. Leading venture capitalists Kleiner Perkins Caufield & Byers and Warburg Pincus each own a 12.6 percent stake. Bay City Capital Fund owns 11.5 percent and CMG @Ventures, the investment arm of CMGI (CMGI: news, msgs), owns an 11.2 percent stake. Chemdex plans to sell 7.5 million shares at $15. The company increased its price from $9-$11 to $12-$14 on July 23. Morgan Stanley Dean Witter is the lead underwriter followed by BancBoston Robertson Stephens, Volpe Brown Whelan & Co. and Discover Brokerage Direct.

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