Here's an example of a recent "trickle" IPO. They raised $80 million. Current market cap is $510 million. Are they worth it? Not a chance. Can they do something with the 80M to justify the market cap? Perhaps. Do you want to own it in the interim? If there's another genomics blip like that in February, the answer is probably "yes". Otherwise, it's heebie jeebies time.
Good company, just expensive.
Tuesday October 3, 8:36 am Eastern Time
Press Release
InforMax, Inc. Announces Initial Public Offering
ROCKVILLE, Md,--(BUSINESS WIRE)--Oct. 3, 2000--InforMax, Inc. (Nasdaq:
INMX - news) announced today the initial public offering of 5,000,000 shares of common stock at a price of $16 per share.
Gross proceeds will total $80 million, before deducting expenses for the offering and underwriting discounts and commissions.
Bear, Stearns & Co. Inc. acted as lead managing underwriter, and U.S. Bancorp Piper Jaffray and Adams, Harkness & Hill,
Inc. acted as co-managers.
InforMax is a leading global provider of bioinformatics software solutions for the analysis and interpretation of genomic,
proteomic and other biomolecular data. InforMax's software solutions are designed to enable researchers to more efficiently
organize, share, analyze and interpret data that form the genetic blueprint of all organisms. The Company's principal products
are the Vector NTI® desktop suite and the GenoMax® enterprise platform for networks of linked computers.
Copies of the final prospectus relating to the initial public offering may be obtained from:
Bear, Stearns & Co. Inc., 245 Park Ave., New York, NY 10167
U.S. Bancorp Piper Jaffray Inc., 222 South Ninth Street, Minneapolis, MN 55402
Adams, Harkness & Hill, Inc., 60 State Street, 12th Floor, Boston, MA 02109
Statements in this press release that are not strictly historical are ``forward-looking'' statements which involve a high degree of
risk and uncertainty. Such statements are only predictions, and the actual events or results may differ materially from those
projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited
to, risks associated with the Company's technologies and the need to keep pace with rapid technological change, the
Company's dependence for future revenues on its ability to increase sales of its enterprise platform and successfully establish
the GenoMax® brand, the Company's dependence on developing and maintaining strategic alliances, development and
availability of competitive products or technologies, the possibility that the Company may not achieve or maintain profitability in
the future, the likelihood that the Company's results may fluctuate from quarter to quarter, dependence on patents and the
ability to defend the Company's intellectual property rights. These factors and others are more fully described in the Company's
Registration Statement on Form S-1, as filed with the Securities and Exchange Commission.
Contact:
InforMax, Inc., Rockville
Media Contact:
Angela Peacock
605/232-9509 |
