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Initial Stock Offerings

October 31, 1985
Increasing competition among home-improvement retailers spoiled HomeClub Inc.'s debut this week as a public company, as the Fullerton-based chain raised about $13 million less than it originally expected from its initial public stock offering. The offering, which saw 2 million shares sell for $9 each, raised about $18 million for the rapidly growing 2-year-old company. However, company executives had earlier expected to sell 2.25 million shares at $14 to $16 each.
November 26, 1996
Panavision Inc., the Woodland Hills maker of motion picture camera systems, raised $59.5 million in its initial public offering. The company sold 3.5 million shares of common stock for $17 apiece, within its expected price range of $16 to $18 a share. In its first day of trading on the New York Stock Exchange on Thursday, Panavision's stock closed at $20 a share. Panavision plans to use the proceeds from the stock sale to repay debt, for working capital and general corporate purposes.
February 10, 1998 | BARBARA MURPHY
California Oaks State Bank, which is in the organizational stage, completed its initial stock offering by raising almost $5.7 million in less than five months. The money will be used to capitalize the Thousand Oaks bank. The grand opening of the bank, at 50 W. Hillcrest Drive, is scheduled for Feb. 18. Anthony D. Kourounis is president and chief executive officer.
The new Pactel Corp. made an impressive debut as a public company Friday as investors eager for a pure play in the fast-growing cellular phone business bid up the share price more than 10% to $25.50 in heavy trading. Late the day before, underwriters of the new issue--a spinoff of Pacific Telesis Group encompassing its cellular phone and paging operations--had priced the offering at $23 a share and placed 60 million shares, or about 12% of the company, with investors. On Friday, 25.
February 1, 2012 | Nathaniel Popper and Jessica Guynn, Los Angeles Times
Facebook has filed papers for what's expected to be the largest initial public offering ever to come out of Silicon Valley and one of the largest in U.S. history. Ending months of breathless speculation, the 8-year-old social networking company has submitted registration documents with the U.S. Securities and Exchange Commission that set a preliminary goal of raising $5 billion. Facebook is expected to be valued at $75 billion to $100 billion. Final pricing will not be set for months, and the size of the IPO probably will increase with investor demand.
May 19, 1987 | MARY ANN GALANTE, Times Staff Writer
Provena Foods Inc., a 15-year-old specialty food processor and distributor with headquarters in Santa Ana, said Monday that it intends to raise up to $9.6 million with an initial public offering of 1.2 million shares of common stock. The company estimated the offering price at $7 to $8 per share. Officials at Provena declined comment on the offering Monday, citing the Securities and Exchange Commission's "quiet period" rule barring most pre-offering publicity.
April 4, 2014 | By Jerry Hirsch
TrueCar .com, the Internet car-shopping company backed by Microsoft Corp. co-founder Paul Allen and insurance giant USAA , plans an initial public stock offering. The Santa Monica company has grown rapidly over the last year by offering a platform for car shoppers to get an “upfront” price from dealers, thereby avoiding most of the haggling that occurs in auto shopping. TrueCar's revenue jumped 68% last year from 2012, to just under $134 million, but the company has never been profitable.
December 23, 2004 | Josh Friedman, Times Staff Writer
Google Inc.'s stock debut may have grabbed the headlines in 2004, but the revival of the market for initial public offerings was no one-hit wonder. In fact, the IPOs of 15 companies -- three of them based in Southern California -- have racked up even bigger post-offering gains than the 119% jump in the price of Google's shares since their debut in August.
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