May 23, 2013

CNNMoney Fortune

M&A and IPOs

ChannelAdvisor Corp., a Morrisville, N.C.-based provider of SaaS-based merchandise sales management solutions for retailers and manufacturers, raised $81 million in its IPO. The company priced 5.8 million shares at $14 per share (high end of $12-$14 range), and will trade on the NYSE under ticker symbol ECOM. Goldman Sachs and Stifel served as lead underwriters. The company reports a $4.9 million net loss on $38.8 million in revenue for 2012, compared to a $3.8 million net loss on $31.3 million in revenue for 2012. It has raised around $75 million in VC funding, from firms like Kodiak Venture Partners (24.4% pre-IPO stake), New Enterprise Associates (24%) and Advanced Technology Ventures (18.5%). www.channeladvisor.com

Portola Pharmaceuticals, a South San Francisco-based drug company focused on cardiovascular and autoimmune/inflammatory diseases, raised $122 million in its IPO. The company priced 8.4 million shares at $14.50 per share, compared to plans to offer 6.9 million shares at between $13 and $16 each. It will trade on the Nasdaq under ticker symbol PTLA, while Morgan Stanley and Credit Suisse served as co-lead underwriters. Portola had raised over $300 million in VC funding, from firms like Temasek (13.9% pre-IPO stake), MPM Capital (9.6%), Prospect Venture Partners (7.1%), Brookside Capital (7%), Sutter Hill Ventures (7%), Eastern Capital (7%), Advanced Technology Ventures (6.1%), Frazier Healthcare (5.7%), AllianceBernstein, Alta Partners, CIDC Consulting, D.E. Shaw, Goldman Sachs, IBT Management Corp., Teachers' Private Capital, T. Rowe Price, Apothecary Capital, Janus Capital, Biogen Idec and PAC-Link BioVentures. www.portola.com

To see the full list visit: http://finance.fortune.cnn.com/2013/05/23/ma-and-ipos-8/