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Back to Business for Printcafe, IPO Launches, Marc Olin Comments

Wednesday, June 19, 2002

Press release from the issuing company

June 19, 2002 -- (WhatTheyThink.com) -- Printcafe Software raised $37.5 million in an initial public offering of 3,750,000 shares priced at $10.00 per share yesterday. Trading on the stock was heavy at 1,227,000 shares and closed down 20% at $8.00 per share. UBS Warburg LLC is acting as the managing underwriter for the offering and Robertson Stephens, Inc., U.S. Bancorp Piper Jaffray Inc., and McDonald Investments Inc. are acting as co-managing underwriters. The IPO was unique as most companies price the night before with trading beginning the next morning. One IPO watcher described the deal as more of a private offering. Current shareholders acquired most of the stock - Creo, Mellon Ventures, HarbourVest Partners and Seligman New Technologies Fund - leaving about 780,000 shares for other investors. Creo will receive $16.9 million in debt repayment from the proceeds of the IPO. Creo purchased $3.7 million of Printcafe Software stock in the IPO and as we reported on Monday will own about 30.2% of Printcafe. The better news for Printcafe is that the IPO distraction should move behind the print management software company. Said CEO Marc Olin, “It was a milestone we have all anticipated for more than 26 months. We are now the only public company in the print management systems space and we have the right products and the right people. We are ready to execute.” Marc Olin comments further in an exclusive interview conducted today by WhatTheyThink.com's contributing columnist Gail Nickel-Kailing. In the interview, Olin discusses their new products and Printcafe’s relationship with Creo, Komori and MAN Roland. He also comments on the possibility of partnering with companies like Heidelberg and Agfa. Premium Access Members can view the interview at www.whattheythink.com.

 

 

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