Zurück
wenn der IPO von Metastorm über die Bühne ist - und das bei einer Marktkapitalisierung von 370 Millionen.
Good informations about the ipo of Metastorm 10-Jun-08 02:31 pm Metastorm plans $86M IPO
by Demitri Diakantonis
Updated 04:51 PM EST, May-15-2008
Venture-backed enterprise software maker Metastorm Inc. filed Tuesday, May 13, to raise up to $86 million in an initial public offering. The exact date and the number of shares for the offering were not disclosed, but the preliminary prospectus indicated that all proceeds would go to the company.
Internet Capital Group Inc. has about a 32% stake in the company, while ABS Capital Partners holds about 17%, followed by 3i Group plc with 13%. Wall Street Technology Partners LP also holds about 9%.
Baltimore-based Metastorm, founded in 1996, had $60 million in revenue in 2007, compared with $42 million in 2006. It had net income of $585,000 last year. Metastorm's software helps companies align their strategy, analysis and execution.
Jefferies & Co. and Oppenheimer & Co. are the bookrunners for the offering, while JMP Securities LLC and Craig-Hallum Capital Group LLC are co-managers.
Metastorm will be listed on Nasdaq under the symbol MSTM. The company had about 75 million shares outstanding as of Dec. 31.
Since its inception, Metastorm has raised about $69 million in outside capital.
In 2007 Internet Capital Group affiliate ICG Holdings, Mayflower LP and Wall Street Technology Partners invested $30 million. That followed a $1.2 million injection in 2005 by Mayflower and Wall Street Technology Partners.
UBS, Ironside Ventures and 3i provided $20 million in 2001. Dresdner Kleinwort Wasserstein (now Dresdner Kleinwort) invested a further $4 million later that year.
The company raised $15 million in 1999 in a round led by Sandler Capital Management and Riggs Capital Partners. In 2005 Metastorm merged with CommerceQuest, a portfolio company of Internet Capital, which maintains a large stake in the combined company.
The company made three acquisitions in the second half of 2007. In August, it acquired Proforma Corp., followed by the acquisitions of Process Competence in November and Spotlight Data Inc. in December.
As of the end of 2007, the company had about 300 employees and currently operates in about 37 countries.
Kevin T. Collins, Jeffrey S. Marcus and Jon E. Gavenman of Heller Ehrman LLP are issuer's counsel, while Philip P. Rossetti and Tod K. Reichert of Wilmer Cutler Pickering Hale and Dorr LLP are lead counsel to the underwriters.
Maybe, the ipo-market-cap will be higher than we believe.
We can read: "Metastorm will be listed on Nasdaq under the symbol MSTM. The company had about 75 million shares outstanding as of Dec. 31." I believe they will add only between 15 and 20 million shares and the worth should be 86 million.
If the worth of 20 million shares = 86 million, the existing 75 million shares must have a worth of 300 million. The worth of the 32% of Internet Capital = 96 million.
If the worth of 15 million shares = 86 million, the existing 75 million shares must have a worth of 430 million. The worth of 32% of Internet Capital 137 million.
Therefore I believe, the worth of 32% of Metastorm is betwenn 96 million and 137 million.
Good informations about the ipo of Metastorm 10-Jun-08 02:31 pm Metastorm plans $86M IPO
by Demitri Diakantonis
Updated 04:51 PM EST, May-15-2008
Venture-backed enterprise software maker Metastorm Inc. filed Tuesday, May 13, to raise up to $86 million in an initial public offering. The exact date and the number of shares for the offering were not disclosed, but the preliminary prospectus indicated that all proceeds would go to the company.
Internet Capital Group Inc. has about a 32% stake in the company, while ABS Capital Partners holds about 17%, followed by 3i Group plc with 13%. Wall Street Technology Partners LP also holds about 9%.
Baltimore-based Metastorm, founded in 1996, had $60 million in revenue in 2007, compared with $42 million in 2006. It had net income of $585,000 last year. Metastorm's software helps companies align their strategy, analysis and execution.
Jefferies & Co. and Oppenheimer & Co. are the bookrunners for the offering, while JMP Securities LLC and Craig-Hallum Capital Group LLC are co-managers.
Metastorm will be listed on Nasdaq under the symbol MSTM. The company had about 75 million shares outstanding as of Dec. 31.
Since its inception, Metastorm has raised about $69 million in outside capital.
In 2007 Internet Capital Group affiliate ICG Holdings, Mayflower LP and Wall Street Technology Partners invested $30 million. That followed a $1.2 million injection in 2005 by Mayflower and Wall Street Technology Partners.
UBS, Ironside Ventures and 3i provided $20 million in 2001. Dresdner Kleinwort Wasserstein (now Dresdner Kleinwort) invested a further $4 million later that year.
The company raised $15 million in 1999 in a round led by Sandler Capital Management and Riggs Capital Partners. In 2005 Metastorm merged with CommerceQuest, a portfolio company of Internet Capital, which maintains a large stake in the combined company.
The company made three acquisitions in the second half of 2007. In August, it acquired Proforma Corp., followed by the acquisitions of Process Competence in November and Spotlight Data Inc. in December.
As of the end of 2007, the company had about 300 employees and currently operates in about 37 countries.
Kevin T. Collins, Jeffrey S. Marcus and Jon E. Gavenman of Heller Ehrman LLP are issuer's counsel, while Philip P. Rossetti and Tod K. Reichert of Wilmer Cutler Pickering Hale and Dorr LLP are lead counsel to the underwriters.
Maybe, the ipo-market-cap will be higher than we believe.
We can read: "Metastorm will be listed on Nasdaq under the symbol MSTM. The company had about 75 million shares outstanding as of Dec. 31." I believe they will add only between 15 and 20 million shares and the worth should be 86 million.
If the worth of 20 million shares = 86 million, the existing 75 million shares must have a worth of 300 million. The worth of the 32% of Internet Capital = 96 million.
If the worth of 15 million shares = 86 million, the existing 75 million shares must have a worth of 430 million. The worth of 32% of Internet Capital 137 million.
Therefore I believe, the worth of 32% of Metastorm is betwenn 96 million and 137 million.
