October 14, 1987
Metalclad Corp. said it has reached a "preliminary understanding" with a New York investment bank for a secondary offering of its common stock to raise about $3 million. Chief Executive Officer Leland E. Sweetser declined to identify the investment bank, citing the advice of the company's legal counsel.
September 7, 2000 |
Praise the Lord, and pray for a big IPO debut? That may be what some members of the United Methodist Church of the Resurrection in Leawood, Kan., will be doing: The church has filed to go public in what's believed to be the first stock offering from a religious organization. Led by a dynamic 36-year-old pastor, the 10-year-old "mega-church" has attracted more than 8,000 members to become one of the fastest-growing congregations in the nation.
July 17, 1986 |
Warner Communications, which has rebounded from its Atari losses of 1983 and 1984, on Wednesday proposed raising about $500 million through a stock offering that might be used for new ventures. At the same time, the company acknowledged that the offering would dilute its largest shareholder's stake. Until this month, Chris-Craft Industries held 29.1% of Warner's voting shares, primarily in the form of preferred stock.
November 20, 1992 |
Transamerica Corp., unsatisfied with the profitability of its property/casualty subsidiary, said it plans to sell a majority interest in the Woodland Hills-based unit through an initial public offering of stock early next spring. The San Francisco-based financial services giant said it plans to use proceeds from the sale to pay down debt and bolster its core finance and life insurance businesses.
July 30, 1997 |
El Segundo-based Kilroy Realty Corp., which has filed with the Securities and Exchange Commission to sell 10 million common shares, expects to use a majority of the proceeds to finance new acquisitions. The company, which operates as a real estate investment trust, hopes to raise as much as $246.2 million from the offering if the shares sell for $26.06 each, the SEC filing said.
October 11, 2001 |
Irvine mortgage company New Century Financial Corp. said its secondary stock offering has been increased, with shares offered at $11. The company said 3.5 million shares are being offered, up from 3.2 million, with 300,000 offered by certain stockholders. New Century said the underwriters have a 30-day option to purchase up to 525,000 additional shares from the company to cover any overallotments. The company plans to use net proceeds for general corporate purposes.
November 10, 2007 |
Visa, the biggest U.S. credit card network, plans to raise $10 billion in an initial public offering. Visa said it would deposit a portion of the company's proceeds into an escrow account to pay settlements or judgments related to litigation. The offering is expected to be the biggest of the year. Visa is following in the footsteps of rival MasterCard, which has more than quadrupled in market value since it went public in May.
January 7, 1997
Intellicell Corp., a Van Nuys distributor of wireless communications products, has completed its first public offering of stock. The company has netted about $9 million in the offering, which Chief Financial Officer Jim Bunting said will be used to augment a credit line obtained last year. Sans Brothers & Co. was the representative for several underwriters. Bunting said Intellicell, which sells cellular phones and accessories, is growing due to expansion of the cellular market.
June 8, 1986
Beach Savings Bank in Huntington Beach has asked regulators to approve a $3-million stock offering that will allow it to nearly triple the amount on deposit. The offering of 300,000 shares of common stock would be added to the 200,000 shares outstanding and give the thrift a $5-million capital base. Under state regulations, the savings and loan, which has $25 million in deposits, can bring in only $3 million more with its current capital base of $2 million, according to Alfred I.
September 21, 2006 |
Los Angeles developer Richard Meruelo is seeking to raise as much as $500 million by taking his real estate firm public. Meruelo Maddux Properties Inc. registered with the Securities and Exchange Commission late Tuesday for a stock offering. The firm said going public would help it fund development of its extensive commercial and residential real estate holdings. Meruelo is the largest land owner in downtown Los Angeles, controlling more than 100 parcels in the central city alone.