IPO Buzz: The message Tech IPOs are “in.”
also see, "Hot Telecom IPO : Clearwire Corporation", etc
IPO Buzz: The message Tech IPOs are “in.”
iposcoop.com
2007 IPO Scorecard - Feb. 16, 2007
Number of IPOs priced (Excluding 10 units):27
Number Up:21
Number Down:6
Number Unchanged:0
Percentage Change From Issue Price:16.94%
The Nasdaq Composite Index: 3.35%
Last 100 IPOs - Feb. 16, 2007
Number of IPOs priced: (Oct. 17, 2006)101
Number Up:77
Number Down:23
Number Unchanged:1
Percentage Change From Issue Price:28.74%
Percentage Change for The Nasdaq Composite (from Oct. 17, 2006)6.45%
---AT&T Sells Spectrum to Clearwire ---
Clearwire company --- Craig McCaw owns 52% of the combined company now, and Intel (INTC) owns 32%. --- company will effect a reverse split before coming public and will still maintain Class A shares and Class B shares. ---
IPO Buzz: The message Tech IPOs are “in.”
iposcoop.com
...."This past week, seven companies posted proposed offering terms. These deals are getting ready to move onto the IPO calendar. They are looking to raise about $1.7 billion. Leading the charge were Clearwire (NASDAQ: CLWR proposed) and Photowatt Technologies (NASDAQ: PHWT proposed).
Clearwire (NASDAQ: CLWR proposed
Clearwire, an operator of next-generation high-speed wireless broadband networks, filed an amendment to price 20 million shares at $23 to $25 each to raise $480 million. On May 11, 2006, Clearwire filed plans for an IPO to raise $400 million. On July 5, Clearwire withdrew its filing. On Dec. 12, Clearwire filed for an IPO to raise $400 million. Book-runner Merrill Lynch had no pricing date at press time. Regarding Clearwire, here’s something to remember: It’s controlled by Craig McCaw, the cable guy who became a cellphone pioneer.
Photowatt Technologies (NASDAQ: PHWT proposed).
Photowatt Technologies, a solar energy provider, filed an amendment to price 10.9 million shares at $15 to $17 each to raise $175 million. On Sept. 1, 2006, Photowatt filed for an IPO to raise $250 million. Book-runner BMO Capital Markets had no pricing date at press time."...
IPO Filing Update: Clearwire Corp. (CLWR)
Craig McCaw owns 52% of the combined company now, and Intel (INTC) owns 32%.
247wallst.com
The most recent filing for Clearwire is now out, and the company ended with over 206,000 subscribers as of December 31, 2006. It also said that it estimates an average monthly increase in subscriber penetration rates to 0.5% to 0.7% (new subscribers divided by number of households their network are covered). The company believes that its network areas combined represents about 9.6 million in people in the US and EU; and the US portion is roughly 34 markets and 350 municipalities covering some 8.6 million people.
Intel (INTC-NASDAQ) has agreed to jointly develop, market and promote its WiMAX service in the US. The company notes that despite a deficit in capital and despite debt of $755+ million that it has adequate liquidity for the next 12 months. It may raise capital and it expects more capital needed to fund build-outs.
Craig McCaw owns 52% of the combined company now, and Intel (INTC) owns 32%. The company will effect a reverse split before coming public and will still maintain Class A shares and Class B shares. This will trade under the "CLWR" ticker on NASDAQ and it has a rather large underwriting group: Lead underwriters are Merrill Lynch, Morgan Stanley, and J.P.Morgan; Others in the syndicate are Wachovia, Bear Stearns, Citigroup, Jefferies, Raymond James, ThinkEquity, and Stifel Nicolaus.
The company now generates more revenue from services than it does from equipment sales and that was broken down as $43.855 million and $32.583 million respectively as of the 9-months ended September 3, 2006. As noted, the company will need to raise additional cash outside of the IPO to fund expansion and it anticipates issuing debt.
Jon C. Ogg
January 30, 2007
If you wish to peruse the amended filing for more details you can access the filing here.
sec.gov
Hot Telecom IPO : Clearwire Corporation
maddmoney.blogspot.com
Craig McCaw, the "greatest moneymaker" in the telecom sector, is coming out with an initial public offering next week that market players should try to get a piece of, Jim Cramer told viewers of his "Mad Money" TV show Thursday. Clearwire Corporation (CLWR) could have a great technology and Jim is bullish because of what he believes is the great man behind this stock. McCaw has an "incredible track record," and history shows that putting money into his ventures has made people mad money, Cramer said. The company's technology is WiMax and Jim feels that McGraw has the gift of spotting the winners in telecom technologies early in the development. Jim mentioned that some of McCaw's ventures have not been winners, but if you pay attention to profit-taking in some of his plays you should do ok. Clearwire's WiMax technology will allow the delivery of wireless broadband as an alternative to cable and DSL. Jim stated this technology is like Wi-Fi but faster and more efficient. Cramer has been very bullish on broadband in the past on Mad Money and that stance isn't changing here with Clearwire Corporation. Jim thinks the IPO price should come in between $23 and $25 and he would pay in the range of $28 to $35 to get a piece of this action. Jim thinks the IPO hype on this stock could cause it to dip, so he would put on a quarter or half a position after it goes public and then buy the rest of your position after it dips. Jim thinks this name will be a big winner longer-term, so he doesn't want investors to just trade the IPO pop. He wants to see investors build a position for the big win.
IPO info Clearwire Corporation (CLWR)
Expected Week of 3/5/07 ; range $23.00 - $25.00 ; shares 20.0 mm
moneycentral.hoovers.com
Clearwire Corporation website
clearwire.com
Clearwire Corporation info, news, etc
finance.google.com
AT&T Sells Spectrum to Clearwire
lightreading.com
..."AT&T Inc. (NYSE: T - message board) is selling all its 2.5GHz wireless spectrum to Clearwire LLC for $300 million in a deal that opens the way for the startup operator to offer more broadband services in the Southern U.S."... |
