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Three new issues began trading on Nasdaq Thursday with positive results. On Wednesday evening, Redmond, Wash.-based TTM Technologies Inc., a manufacturer of printed circuit boards, and its investors raised $120 million after pricing their shares above range, at $16 each. The stock closed at $20.94, for a 30.86 percent first-day gain. Robertson Stephens was the bookrunner. TTM itself sold 5.625 million shares, raising $90 million, and insiders sold 1.875 million shares, receiving $30 million. With 35.55 million shares outstanding, TTM’s market capitalization is $702.45 million. Private equity investment firms Thayer Capital Partners of Washington, D.C., and Brockway Moran & Partners Inc., based in Boca Raton, Fla., created TTM Technologies in October 1999 by merging two of their holdings, Pacific Circuits Inc. of Redmond, Wash., and Power Circuits of Santa Ana, Calif. Thayer and Brockway had acquired Pacific Circuits in November 1998 through a newly formed limited liability corporation in which Thayer had a 60 percent stake and Brockway had a 40 percent stake. Nine months later, the two private equity firms acquired Power Circuits. In all, the two firms invested approximately $69 million for an 87 percent stake in the merged companies at an average cost of $2.63 per share. When TTM priced its shares Wednesday evening, Thayer and Brockway cashed out 1.699 million shares for $27.18 million. They still own 24.52 million shares. The post-Labor Day season’s first wireless Internet offering was also well received by Nasdaq investors Wednesday. Shares of OmniSky Corp., an Internet service provider for users of wireless handheld devices, closed up $5.64, or 48 percent, at $17.64. Credit Suisse First Boston was lead manager. “We are very excited to raise over $100 million to enhance our service, build our brand and launch into over 1,000 retail outlets,” said OmniSky CEO Patrick McVeigh, who owns 3.6 million shares. He said the road show took him all across the U.S. as well as Milan, Italy, London and Paris. OmniSky’s pre-IPO investors include, in order of stake size, Aether OpenSky Investments llc, 3Com Ventures Inc., News Corp. and The Sprout Group. With 65.2 million shares outstanding, OmniSky’s market capitalization is $1.15 billion. The third company to begin trading Thursday was Zengine Inc., the Fremont, Calif.-based e-commerce technology company. The offering — William Blair & Co.’s first bookrunning of the year — was priced low, at $13 per share, and raised $55.77 million. Shares closed up $1.13, to $14.13. Two more companies expected to price their new shares Thursday evening for trading Friday. They were Curon Medical Inc. and Inrange Technologies Corp. Sunnyvale, Calif.-based Curon develops products for the treatment of gastroesophageal reflux disease and fecal incontinence. It hopes to price $5 million of its 18.66 million shares within the range of $11 to $13. UBS Warburg llc is the bookrunner. Investors include U.S. Venture Partners lp, Onset Ventures and Excelsior Private Equity Fund. Inrange, which is based in Mount Laurel, N.J., makes switching and other components for storage, data and telecommunications networks. It was looking to price 7.7 million of its 83.33 million shares within the range of $14 to $16 per share, which was recently revised upward by $2. Salomon Smith Barney Inc. is the bookrunner. Inrange is majority-owned by SPX Corp. of Muskegon, Mich. Copyright (c)2000 TDD, LLC. All rights reserved.

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