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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