Smart Technologies (SMT) set to price on NASDAQ tonight. Price talk is 35.3 million shares at $16-$18; my sources tell me the book was closed at noon today (usually a sign of strong demand).
At $600 million or so raised, this will likely be the biggest IPO of the year.
SMT makes "interactive technology products" including interactive whiteboards, which allows the placement of shared files on a "whiteboard" that lets users mark up the board.
Intel owns roughly 26 percent of the outstanding stock; Apax Partners owns 51.4 percent, so there is a heavy private equity component. 75 percent of what is being sold is coming from shareholders (the insider cost is $2.70!).
Two other anticipated deals--RealD
(RLD) andQlik Technologies
(QLIK), are scheduled to price tomorrow night.
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