Red Herring: Shutterfly Expects $73M IPO. Shutterfly set the terms of its IPO Thursday in an amended filing with the U.S. Securities and Exchange Commission, predicting it will raise net proceeds of $73 million by offering 5.8 million shares priced at approximately $13 to $15.
Food Production Daily: Argentina Nabs Bazooka Joe. An Argentine gum manufacturer has been granted the right to continue making Bazooka gum, despite an acrimonious end to its business relationship with the Topps company who own the iconic US brand.
The article above adds, “Topps contended that Stani held only the rights to the brand names rather than the specialized technology used to make them.” The last time I had a piece of Bazooka Joe chewing gum, it was hard and lost its flavor rapidly. Specialized technology, eh? I’ve added Topps Company contracts to the web site. No chewing gum contracts with any Argentine companies, but plenty of trading card contracts with various sports leagues.
Reuters: CommVault sets IPO at 11.1 mln shrs, $12.50-$14.50. CommVault Systems Inc., which designs software that backs up, protects and recovers data, on Wednesday set its planned initial public offering at 11.11 million shares for an estimated price of $12.50 to $14.50 per share.
I’ve added CommVault Systems Inc. contracts to the web site.
Yahoo/Reuters: “Blank-Check” Companies Defy Weak IPO Market. Services Acquisition Corp. International, which floated shares in 2005 at $8, announced in March it would merge with U.S. restaurant chain Jamba Juice in a deal worth about $265 million.