Saturday, June 8, 2013

Textura's IPO "aftermath" - a quick glance at the numbers!

Based on what I read in Textura’s IPO Prospectus (and also taking into consideration that the number of shares offered was increased just prior to the IPO going effective), Textura now has (or will have, if the over-allotment is exercised, as I suspect it will be) around 22,700,000 shares outstanding.

Textura stock was at $20.91 per share when the market closed on Friday, June 7th, the first day that Textura’s shares traded on the NYSE.  That means that, as of market close yesterday afternoon, Textura’s “market cap” stood at around $475 million.

That’s right, around $475 million!

When Textura first filed to go public, Textura originally planned to offer 4 million shares.  But, due to heavy demand, Textura ended up offering 5 million shares.  The IPO was initially priced to go off at $13 to $15 per share, but, when the IPO went effective, the shares were sold at $15.00 per share, so at the high-end of the range.  Subsequently, the shares soared, as we previously reported in a previous note on Repro 101 about Textura’s IPO.

For the most recent six month period ended March 31, 2013, Textura reported: (all numbers rounded)

Sales - $15.3 mil

Operating Expenses - $24.1 mil

Loss from Operations - $8.7 mil

Overall Net Loss - $10.8 mil

The fact that Textura was able to go public - without having ever achieved profitability - is a great example of investors believing that Textura’s growth potential is enormous.

I hope that some of you, who read the previous posts on Repro 101 about Textura going public, were able to pick up some of the shares in the IPO before it started trading.  For those who were able to pick up the shares at the IPO price of $15.00, they got a very nice pop on the first day of trading!

Textura - NYSE: TXTR

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