Businessweek Archives

Alien Tech Prices IPO at $10-$12


? A snapshot of Shutterfly |

Main

| What part of "Vonage" don't you understand? ?

July 14, 2006

Alien Tech Prices IPO at $10-$12

Justin Hibbard

Well, Tim, Alien Technology priced its IPO this week. If the deal gets done within the proposed price range--and if your bet still stands--you're going to owe someone $10 to $12 (the price of one share). Of course, the company now expects to raise a maximum of $124.2 million, which is $13.8 million less than it had originally anticipated. Although I think the deal will happen, it clearly won't be the "scorcher" I had predicted. What has changed since my prediction? One word: Vonage. The Internet phone company's tepid IPO in May threw a wet blanket over speculative concept plays like Alien, which lost $34 million on revenues of $10 million in the six months ended April 1. In other words, several quarters of positive earnings on meaningful revenue are still minimum criteria for a successful IPO in the post-bubble world. And that's probably as it should be.

01:37 PM

IPOs

TrackBack URL for this entry:

http://blogs.businessweek.com/mt/mt-tb.cgi/


Toyota's Hydrogen Man
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus