Weibo (WB) IPO Gets Energized; Sina (SINA) Ticks Higher in Concert Apr 17, 2014 02:36PM

Weibo (NASDAQ: WB) is gaining ground Thursday after its IPO got out of the gate on a rough note.

Around noon today, Weibo opened for trading at $16.27, which was below its initial pricing of $17 per ADS.

Since then, the stock has marched higher, moving over 50 percent at one point.

Shares have retraced some, but are still up 27.6 percent on the session. Notably, Sina Corp. (Nasdaq: SINA) is up 6.4 percent today.


Weibo (WB) IPO Opens at $16.27, Below $17/ADS Pricing Apr 17, 2014 11:59AM

The IPO for Weibo (Nasdaq: WB) opened for trading at $ after pricing 16,800,000 American depositary shares ("ADSs"), each representing one Class A ordinary share of the Company, at $17 per ADS, the low end of the expected $17 to $19 range. The IPO size was reduced from 20,000,000 share.

All of the 16,800,000 ADSs in the offering are offered by Weibo. The underwriters have been granted a 30-day option to purchase up to 2,520,000 additional ADSs from Weibo to cover over-allotments.

Goldman Sachs (Asia) L.L.C. and Credit Suisse Securities (USA) LLC acted as joint book runners for the offering.

Weibo is a leading social media platform for people to create, distribute and discover Chinese-language content. By providing an unprecedented and simple way for Chinese people and organizations to publicly express themselves in real time, interact with others on a massive global platform and stay connected with the world, Weibo has had a profound social impact in China. In March 2014, Weibo had 143.8 million MAUs and 66.6 million average DAUs. Over 70% of our MAUs in December 2013 accessed Weibo from mobile devices at least once during the month.

A microcosm of Chinese society and a cultural phenomenon in China, Weibo allows people to be heard publicly and exposed to the rich ideas, cultures and experiences of the broader world. Media outlets use Weibo as a source of news and a distribution channel for their headline news. Government agencies and officials use Weibo as an official communication channel for disseminating timely information and gauging public opinion to improve public services. Individuals and charities use Weibo to make the world a better place by launching charitable projects, seeking donations and volunteers and leveraging the celebrities and organizations on Weibo to amplify their social influence.

Weibo is being spun-off from Sina (NASDAQ: SINA), which will continue to control a majority of the shares following the IPO.


Vital Therapies (VTL) IPO Opens Mildly Higher Apr 17, 2014 10:55AM

The IPO for Vital TheraNovatel Wireless, Inc. (NASDAQ: VTL)
pies, Inc. (NASDAQ: VTL) opened at $12.25 after pricing 4,500,000 shares of common stock at a price to the public of $12.00 per share, below the expected $13-$15 range.

BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are acting as joint book-running managers for the offering. William Blair & Company, L.L.C. and Canaccord Genuity Inc. are acting as co-managers.

Vital Therapies, Inc. is a biotherapeutic company developing a cell-based therapy targeting the treatment of acute liver failure. The company's lead product-candidate, ELAD, is an extracorporeal bio-artificial liver currently in Phase 3 clinical trials. Vital Therapies, Inc. is based in San Diego, California. Vital TherapiesĀ® and ELADĀ® are trademarks of Vital Therapies, Inc.


Sportsman's Warehouse Holding (SPWH) IPO Opens Flat Apr 17, 2014 10:36AM

The IPO for Sportsman's Warehouse Holding (NASDAQ: SPWH) opened for trading at $9.50 after pricing 12,500,000 shares of its common stock at a price to the public of $9.50 per share. The offering consists of 8,333,333 shares of common stock sold by Sportsman's and 4,166,667 shares of common stock sold by affiliates of Seidler Equity Partners III, L.P. Shares have continued lower since opening to $9.34, down 1.7%.

In addition, Sportsman's and Seidler have granted the underwriters a 30-day option to purchase up to an additional 468,750 shares from Sportsman's and an additional 1,406,250 shares from Seidler.

Credit Suisse and Goldman, Sachs & Co. are acting as joint book-running managers and the representatives of the underwriters. Robert W. Baird & Co. Incorporated, William Blair & Company, L.L.C., Piper Jaffray & Co., Wells Fargo Securities and D.A. Davidson & Co. are acting as co-managers.

Sportsman's Warehouse is a high-growth outdoor sporting goods retailer focused on meeting the everyday needs of the seasoned outdoor veteran, the first-time participant and every enthusiast in between. Our mission is to provide a one-stop shopping experience that equips our customers with the right hunting, shooting, fishing and camping gear to maximize their enjoyment of the outdoors.


Sabre Corporation (SABR) IPO Opens Higher Apr 17, 2014 10:09AM

The IPO for Sabre Corporation (Nasdaq: SABR) opened for trading at $16.79 after pricing its initial public offering of 39,200,000 shares of common stock at $16 per share, below the expected $18-$20 range.

The offering comprises 39,200,000 shares of newly issued Sabre common stock. In addition, the underwriters of the offering have a 30-day option to purchase up to an additional 5,880,000 shares of common stock from Sabre at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments, if any.

Morgan Stanley, Goldman, Sachs & Co., BofA Merrill Lynch and Deutsche Bank acted as joint book runners for this offering. In addition, Evercore, Jefferies, TPG Capital BD, LLC, Cowen and Company, Sanford C. Bernstein, William Blair, Mizuho Securities, Natixis and The Williams Capital Group, L.P. acted as co-managers for this offering.

Sabre is a leading technology provider to the global travel and tourism industry. Sabre's software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, such as passenger and guest reservations, revenue management, and flight, network and crew management. Sabre also operates a leading global travel marketplace, processing over $100 billion of estimated travel spend in 2013 by connecting travel suppliers to their most valued customers, the business traveler. Headquartered in Southlake, Texas, USA, Sabre employs approximately 10,000 people in approximately 60 countries around the world.


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