Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

M&A and IPOs

October 14, 2013: 11:03 AM ET

Xero (NZ: XRO), a New Zealand-based provider of online accounting software, has raised US$150 million in new funding, at a price of US$15.16 per share (8% of all share capital). Return backers include Matrix Capital Management and Valar Ventureswww.xero.com

Apax Partners is seeking a buyer for Bob's Discount Furniture, a Manchester, Conn.-based retailer that could be valued at more than $350 million, according to Dow Jones. www.mybobs.com

Facebook (Nasdaq: FB) has acquired Onavo Mobile, Israeli developer of mobile data management applications. No financial terms were disclosed. Onavo had raised around $14 million in VC funding from Horizons Ventures, Motorola Mobility Ventures, Sequoia Capital and Magma Venture Partners. www.onavo.com

TD Bank (TSX: TD) is considering a $12.8 billion bid for Royal Bank of Scotland's (LSE: RBS) American retail banking business, according to The Sunday Times. www.tdbank.com

Twitter Inc. is close to securing a $1 billion credit line from its bankers, according to the WSJ. The company also is expected to pay bankers just a 3.25% fee on its IPO. www.twitter.com

CardioDx, a Palo Alto, Calif.-based provider of cardiovascular genomic diagnostics, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol CDX, with BoA Merrill Lynch and Jefferies serving as lead underwriters. The company has raised over $110 million in VC funding, from Temasek Life Sciences (19.9% pre-IPO stake), Longitude Capital (17.9%), Artiman Ventures (13.9%), Kleiner Perkins Caufield & Byers (9.5%), J.P. Morgan (6.4%), Mohr Davidow Ventures (5.8%), TPG Biotech, Intel Capital, Pappas Ventures, DAG Ventures, Asset Management Group, Acadia Woods Partners, Bright Capital and GE Capital. www.cardiodx.com

Celladon Corp., a La Jolla, Calif.-based cardiovascular drug developer, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol CLDN, with J.P. Morgan and Barclays serving as lead underwriters. The pre-IPO company has raised around $120 million in VC funding, from Enterprise Partners Venture Capital (15.1% pre-IPO stake), Pfizer Ventures (13.1%), Lundbeckfond Ventures (13%), Novartis Venture Funds (11.6%), Johnson & Johnson Development Corp. (10.1%), GBS Venture Partners (8.3%), Venrock (7.7%) and H&Q Healthcare Investors (7.3%).www.calladon.net

CommScope Inc., a Hickory, N.C.-based provider of infrastructure solutions for communications networks, has set its IPO terms to around 38.46 million shares being offered at between $18 and $21 per share. It would have an initial market cap of approximately $3.62 billion, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol COMM, with J.P. Morgan, Deutsche Bank and BoA Merrill Lynch leading a 16-bank underwriting group. The company reports $17 million in net income on over $1.7 billion of revenue for the first half of 2013, compared to an $11 million net loss on nearly $1.6 billion in revenue for the year-earlier period. The Carlyle Group took CommScope private in early 2011 for $3.9 billion, and holds a 98.4% ownership stake.www.commscope.com

Endurance International Group Holdings, a Burlington, Mass.-based provider of cloud solutions for small and mid-sized businesses, has set its IPO terms to 23.39 million shares being offered at between $14 and $16 per share. It would have an initial market cap of approximately $1.93 billion, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol EIGI, with Goldman Sachs, Credit Suisse and Morgan Stanley serving as lead underwriters. Endurance International reports a $65 million net loss on $251 million in revenue for the first six months of 2013, compared to a $39 million net loss on $92 million in revenue for the year-earlier period. Shareholders include Warburg Pincus and Goldman Sachs. www.enduranceinternational.com

Vital Therapies Inc., a San Diego-based developer of a cell-based therapy targeting the treatment of acute liver failure, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol VTL, with Credit Suisse and William Blair serving as lead underwriters. www.vitaltherapies.com

Xencor Inc., a Monrovia, Calif.-based developer of engineered monoclonal antibodies, has filed for a $69 million IPO. It plans to trade on the Nasdaq under ticker symbol XNCR, with Credit Suisse and Leerink Swann serving as lead underwriters. Shareholders include MedImmune Ventures (8.2% pre-IPO stake) and HealthCare Ventures (6.4%). www.xencor.com

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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