December 10th, 2007
NetSuite IPO to price next week
Bidding opened today in NetSuite’s IPO auction process and will close a week Wednesday, after close of business on December 19. So the pre-Xmas IPO I foreshadowed last week is now definitely on.
From the release that crossed the wires this morning:
NetSuite Inc. today announced that the auction for its proposed initial public offering of its common stock has commenced. NetSuite announced that it expects the offering to price after the stock market closes on or about Wednesday, December 19, 2007.
Credit Suisse Securities (USA) LLC will act as sole book-running manager for the offering, with W.R. Hambrecht + Co., LLC acting as co-manager. NetSuite will offer 6,200,000 shares of its common stock in the offering. NetSuite and the selling stockholders have also granted the underwriters a 30-day option to purchase up to an aggregate of 930,000 additional shares.
NetSuite is conducting the offering as a modified Dutch auction. The preliminary prospectus, which is available at NetSuite’s auction website www.netsuiteipo.com contains further information about NetSuite, the offering, and the structure of the auction. In addition, the site also provides a link to a recording of the management presentation to prospective investors.
NetSuite’s auction website also contains information about how to contact the underwriters to open a brokerage account with one of the underwriters.
UPDATE [added 6:59 am]: Larry Dignan has also posted the news, highlighting the special site NetSuite has set up for the IPO, where individual investors can download the prospectus and follow links to open accounts at either WR Hambrecht or E*Trade in order to bid for shares. There’s also a link to all 30 minutes of NetSuite’s roadshow presentation.
Phil Wainewright is a commentator and strategist on emerging software industry trends. See his full profile and disclosure of his industry affiliations.
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