3 IPOs in 1 Day: Calix, MaxLinear, and First Interstate BancSystem (CALX, MXL, FIBK)

We have had at least 3 IPOs pricing today.  On deck are Calix Networks Inc. (NASDAQ: CALX), MaxLinear Inc. (NYSE: MXL), and First Interstate BancSystem Inc. (NASDAQ: FIBK).  What makes today interesting is that all 3 IPOs were above plan on either price or in the size of shares being sold.  We have compiled brief data on each as far as prices versus expectations, the share count versus the original amount, underwriters, and a brief description of each.

Calix Networks Inc. (NASDAQ: CALX) priced a 6.3 million share IPO priced at $13.00, at the top of its $11 to $13 indicated range.  The telecom equipment maker sells hardware and software to communications service providers to network with their residential and business subscribers.  Goldman Sachs and Morgan Stanley are the underwriters.

MaxLinear Inc. (NYSE: MXL) is the big anticipated IPO today.  The chip-maker priced 6.44 million shares in its IPO at $14.00.  This is above what was supposed to be an $11 to $13 price range and above what we had originally put at 5.4 million shares.  The lead underwriters were Morgan Stanley and Deutsche Bank.  The semiconductor maker makes chips for broadband video to be used in computers, phones, TVs and other consumer electronics.  MaxLinear and shareholders are selling shares today.

First Interstate BancSystem Inc. (NASDAQ: FIBK) priced its 10 million share IPO at $14.50, which is within the $14.50 to $16.50 price range.  We originally had 8.7 million shares for the IPO.  Barclays led the underwriting today.  This is a regional bank with locations in Montana, South Dakota, and Wyoming.

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JON C. OGG