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M&A and IPOs

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
Down Arrow Button Icon
August 22, 2013, 3:02 PM ET

SunEdison Inc. (NYSE: SUNE) said that it will spin off its semiconductors business into an independent company via an IPO, while maintaining a minority ownership interest in the business. SunEdison plans to file registration documents later this quarter, with the offering to occur by early 2014. www.sunedison.com

JustFab and ShoeDazzle, a pair of subscription e-commerce companies based in the Los Angeles area, have agreed to merge in an all-stock deal. Additional financial details were not disclosed. JustFab has raised nearly $110 million in VC funding, from Matrix Partners, Technology Crossover Ventures and Rho Capital Partners. ShoeDazzle has raised around $66 million from Andreessen Horowitz, Crosscut Ventures, Polaris Partners and Lightspeed Venture Partners. www.justfab.com

Abbott Labs (NYSE: ABT) has completed its previously-announced acquisition of IDEV Technologies, a developer of a stent system for treating blockages in blood vessels due to peripheral artery disease. The deal was valued at $310 million net of cash and debt. IDEV had raised more than $90 million in VC funding, from PTV Sciences, Bay City Capital, RiverVest Venture Partners, PJC Capital and Heron Capital. www.indevmd.com

Montage Technology Group Ltd., a Chinese fabless chipmaker focused on the  home entertainment and cloud computing markets, has filed for a $115 million IPO. It plans to trade on the Nasdaq under ticker symbol MONT, with Deutsche Bank and Barclays serving as lead underwriters. The company reports $8.7 million of net income on $45 million in revenue for the first six months of 2013, compared to $8.3 million in net income on $34 million in revenue for the year-earlier period. Shareholders includeAsiaVest Partners (19.2% pre-IPO stake) and Intel Capital (10%). www.montage-tech.com

Regado Biosciences Inc., a Basking Ridge, N.J.-based developer of antithrombotic drug systems for acute and sub-acute cardiovascular indications, raised $43 million in its IPO. The company priced 10.75 million shares at $4 per share, compared to downwardly-revised plans to offer 8.4 million shares at $5 each. It will trade on the Nasdaq under ticker symbol RGDO, while Cowan & Co. and BMO Capital Markets served as lead underwriters. Shareholders include Domain Associates (19.2% pre-IPO stake), Quaker BioVentures (12.7%), Edmond de Rothschild Investment Partners (12.4%), RMI Investments (14.2%) and The Aurora Funds (7.9%). www.regadobio.com

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By Dan Primack
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