This morning we have a syndicate bonanza with a very solid IPO pricing and many secondary offerings getting priced. Fortinet, Inc. (NASDAQ: FTNT) priced 12.5 million shares in IPO at $12.50, above the $9.00 to $11.00 range. There are also many secondary offerings: American Water Works (NYSE: AWK) 37.35 million shares priced at $21.63; Boise Inc. (NYSE: BZ) 17 million shares priced at $4.85; Longtop Financial Technologies Limited (NYSE: LFT) 3.7 million shares priced at $31.25; Smith International Inc. (NYSE: SII) priced 28 million shares priced at $26.50.
We have detailed information on the size, use of funds, underwriters, and performance on each below.
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DryShips Inc. (NASDAQ: DRYS) just hexed its investors who were hoping to see the stock keep running over the $7.00 hurdle. The company just announced that it has commenced a public offering of $300 million aggregate principal amount of convertible senior notes. The company listed the use of proceeds as being for vessel acquisitions, working capital, and other general corporate purposes. These are under an existing shelf, but the offering method here may sour some investors who recently bought stock.


















