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Investing

Netezza Launches Out Of The IPO Gate (NZ)

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By Douglas A. McIntyre Updated Published
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Netezza Corp. (NYSE:NZ) has managed a strong debut in its IPO trading day.  The company priced 9 million shares at $12.00, and based on the initial performance it may be safe to assume that the 1.35 million share overallotment will be exercised.  If that holds true, then the company will have raised $159 million before the near 7% underwriting fees.  Shares have traded as low as $14.75 and are north of $16.00 mid-day.

Credit Suisse and Morgan Stanley acted as joint book-running managers with Needham & Co. and Thomas Weisel acting as co-managers.  Here is the summary of the filing back in March.

Netezza is an unprofitable provider of data warehouse appliances that sells large systems to enterprise-size companies. The Netezza Performance Server® system, or NPS®, integrates database, server and storage platforms in a purpose-built unit to enable detailed queries and analyses on large volumes of stored data. The results of these queries and analyses, often referred to as business intelligence, provide organizations with actionable information to improve their business operations.

Jon C. Ogg
July 19, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers. 

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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