Last night Cramer was discussing two IPO’s favorably that both priced. One of his two "hot issues" priced above, but one didn’t make the range.
Guidance Software (GUID) priced its 5 million share IPO at $11.50, under the $12.50 to $14.50 range. Morgan Stanley and Lehman brought this deal public. This is the forensic software and data recovery software company.
IPG Photonics (IPGP) priced 9 million shares at $16.50 for its IPO, above the $13.50 to $15.50 range. Merrill Lynch and Lehman Brothers acted as lead managers, and co-managers were Needham, Jefferies and Thoams Weisel. This is the fiber laser for industry company.
Once again, anyone that sets pre-established price bands on a deal should really be looking at the comparable news upun til the same morning as the IPO. Cramer set some price parameters last night on these two deals and one is acting opposite from his call right off the bat.
Jon C. Ogg
December 13, 2006
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