Crayfish was the last of the real loony offerings. There was a company that really had nothing behind it.
Lion was not really too big a surprise. It's a major player in its field ... the leading company in Western Europe.
This is a classic Internet company and they will be burning cash like there's no tomorrow. But the deal is programmed to explode on its first day with 3.5 million shares priced between $12 and $14.
It's an early-stage company but they have a lot of room to grow.
They were having some difficulty getting this deal done because the company is very highly leveraged. It's a very risky deal, and if it weren't for the superstar management team, no one would pay attention to it.
Investors are only buying 16 percent of the company and the remaining will be held by Eaton. That's a pretty severe problem.
Their growth has been modest, but it's the one profitable company expected to come out this week.
We are not used to looking at a company this good.
To pick a fiber optic company in the IPO market now is a safe bet.
This deal is really speculative, but the company has enough breakthrough to turn out OK.