Merry Christmas to All (even 3Dfx investors)!
I've had a wonderful year, lurking this forum; with all
the fantastic information given and contributed freely
by everyone. Wish you all the best!
O.T., of holidays that is....
Want to thank Patrick for posting the nVidia information.
Very, very, interesting. (BTW I too have been picking up STBI
shares, since I am long (i.e. much beyond the merger date) and
consider the arbitrage discount worth the risk.)
Priceline.com and nVidia filed S-1/A forms with the U.S. Securities and Exchange Commission on Wednesday. Priceline.com hopes to raise as much as $115 million and nVidia is offering 3.5 million shares at $7 to $9 a share. Morgan Stanley Dean Witter is the lead manager for both offerings.
Wooooo, wait a minute, $24.5 to $31.5 million in new shares, plus
the outstanding shares... which we get a part of through STBI:
I am going to have to clearly start complaining if 3Dfx doesn't
try to do an unsolicited takeover if this happens. Forget the
"we are different types of companies" bit, and get down to business
and figure out how to merge, or go for the takeunder. We've done
a good job building cash reserve, and the stock swap for STBI
built it more. This is about two companies that will succeed better together, and increase share holder value faster, by working out the differences.
From the Electronic News posted by Joe C:
#1 - ATI: 44%
#2 - Matrox: 15%
#3 - Nvidia: 13%
#4 - S3: 11%
#5 - 3Dfx: 8%
Other: 9%
Either 3Dfx merges with nVidia, or even S3 (Not!), and we become the
instant #2. nVidia gives us an existing OEM product line generation
capability, without us having to build are own. Well worth the 31.5.
This make too much sense! Any reason why we can't do this?
If nVidia's shares sell at 8, the company will $24.2 million from the offering. About $5.1 million would be used to repay a loan, $10 million would be used in 2000 for capital leases and hardware purchases, and the rest would pay for general expenses, the company said.
What will the insider holding be on nVidia after the IPO...
anyone have this?
Waldeen
Remainder relevant part of article follows,
Holiday Week Sees Flurry Of IPO Filings
(12/24/98, 4:07 p.m. ET)
By Sergio G. Non, TechWeb
The pre-Christmas rush was on at the Securities and Exchange Commission this week, as several technology companies filed for IPOs.
Priceline.com and nVidia filed S-1/A forms with the U.S. Securities and Exchange Commission on Wednesday. Priceline.com hopes to raise as much as $115 million and nVidia is offering 3.5 million shares at $7 to $9 a share. Morgan Stanley Dean Witter is the lead manager for both offerings.
nVidia's filing was merely the latest of several IPO filings for the company this year. Santa Clara, Calif.-based nVidia, which makes chip sets for 3-D graphics, filed its initial registration statement Mar. 6. Since then, nVidia has filed five amended S-1 forms, including this week's. The company plans to trade under the symbol NVDA.
If nVidia's shares sell at 8, the company will $24.2 million from the offering. About $5.1 million would be used to repay a loan, $10 million would be used in 2000 for capital leases and hardware purchases, and the rest would pay for general expenses, the company said.
nVidia lost money in five of the past seven quarters as it increased production of 3-D processors. But in its latest quarter, ended Oct. 25, it had profits of $7.1 million on $52.3 million in revenue.
The company's customer list includes Compaq, Dell, Gateway, IBM, Micron, Packard Bell NEC, and 3-D graphics card manufacturers like Canopus, Creative Labs, and Diamond Multimedia.
nVidia's main competitor, 3Dfx, recently announced its acquisition of STB Systems, which until now has been nVidia's single-biggest customer, providing 40 percent of nVidia's revenue in the first nine months of 1998. 3Dfx said it wants to move from just supplying chip sets to actually making 3-D graphics cards.
And Intel remains a potential threat, although the chip giant's foray into 3-D graphics has been unsuccessful so far. |
