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Initial Stock Offerings

BUSINESS
December 4, 1993 | MARTHA GROVES, TIMES STAFF WRITER
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.
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BUSINESS
May 3, 1991
Homedco Group Inc. in Fountain Valley, a provider of home respiratory care with operations in 35 states, raised about $47.9 million Thursday in an initial public stock offering. The company's underwriting group sold 4.2 million shares of stock--3.2 million offered by Homedco and another million by private shareholders--at $15 per share, and the stock closed at $17.50 on the over-the-counter market. Homedco will use the money to repay loans and to buy back stock.
BUSINESS
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.
BUSINESS
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.
BUSINESS
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.
BUSINESS
August 18, 2010 | By Jerry Hirsch and Tom Petruno, Los Angeles Times
General Motors Co. filed to become a publicly traded company again, the first step in its plan to sell stock that would pay back billions of dollars of taxpayer support that allowed the automaker to rebuild itself after years of devastating losses. In a regulatory filing Wednesday, GM highlighted its profitable resurgence from the depths of bankruptcy as it pitched what's expected to be one of the biggest stock offerings ever. Wall Street has anxiously awaited for the filing to learn how the giant deal will play out. The initial public offering comes at a time when GM's financial fortunes are on the rise.
BUSINESS
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.
AUTOS
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.
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