Term Sheet

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

Deals of the Day: Bebe on the block

February 10, 2014: 10:16 AM ET

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Venture Capital Deals

Melinta Therapeutics, a New Haven, Conn.-based antibiotics developer, has raised $70 million in new VC funding led by return backer Vatera Healthcare Partnerswww.melinta.com

PayNearMe, a Sunnyvale, Calif.-based cash payment network, has raised $20 million in Series E funding. GSV Capital led the round, and was joined by return backers August Capital, Khosla Ventures, Maveron and True Ventures. www.paynearme.com

PlaceIQ, a New York-based hyper-local ad targeting startup, has raised $15 million in Series C funding. Harmony Partners led the round, and was joined by Iris Capital and return backers IA Venture Partners, U.S. Venture Partners and Valhalla Partners. www.placeiq.com

PubMatic, a Redwood City, Calif.-based programmatic ad platform, has raised $13 million in new VC funding. Nokia Growth Partners led the round, and was joined by return backers August Capital, DFJ, Helion Ventures and Nexus Venture Partners. The company has now raised over $75 million in total VC funding, and the WSJ reports that the company has hired Credit Suisse and Citigroup for an IPO that would value the company north of $1 billion. www.pubmatic.com

Kantox, a Spain-based provider of an enterprise P2P trading platform for foreign currency exchange, has raised €6.5 million in new VC funding. Partech Ventures and Idinvest Partners co-led the round, and were joined by return backer Cabiedes & Partners. www.kantox.com

iSocket, a Burlingame, Calif.-based startup focused on programmatic direct buying and selling of online advertising, has raised $5 million in new VC funding. Time Warner Investments led the round, and was joined by Condé Nast, R&R Venture Partner and Vivi Nevo. The company previously raised more than $10 million from Foundry Group, Costanoa Venture Capital, DFJ, SoftTech, Accelerator, Quest and Blumberg Capital. www.isocket.com

SportPursuit, a UK-based flash sales site for sports and outdoor goods, has raised £5 million in new funding. DFJ Esprit led the round, and was joined by Silicon Valley Bank and individual angels.www.sportpursuit.com

TNG Pharmaceuticals, a Louisville, Ky.-based developer of a vaccine for cattle to aid in control of the horn fly, has raised $4.6 million in Series A funding. Yearling Fund led the round, and was joined by Angel Investor Investment Management Group, Bluegrass Angels, Commonwealth Seed Capital, Goose Society of Texas, the Ogle Foundation, Texas Halo Fund and the University of Louisville Foundation.www.flyvax.com

iDevices, an Avon, Conn.-based provider of Bluetooth and Wi-Fi-connected consumer product development and consulting services, has raised $4.25 million in new VC funding from firms like Connecticut Innovations and Stonehenge Capital. www.idevicesinc.com

Rocketrip, a New York-based travel management platform, has raised $2.6 million in Series A funding. Canaan Partners led the round, and was joined by Gencast Ventures and individual angels.www.rocketrip.com

HiConversion, a Boca Raton, Fla.-based e-commerce revenue optimization software platform, has raised $2.6 million in funding from LB Merchant, an affiliate of Littlebanc Advisors.www.hiconversion.com

BloomThat, a San Francisco-based free delivery service for handcrafted flower displays, has raised $2 million in seed funding. Backers include SV Angel, A-Grade Investments, Joe Montana, Alexis Ohanian, Ron Rofe, Baron Davis and Gary Vaynerchuk. www.bloomthat.com

ArborMetrix Inc., an Ann Arbor, Mich.-based provider of real-time healthcare analytics, has raised $1.3 million in Series B funding from Renaissance Venture Capital Fund and Detroit Innovate. The round total is now $8.3 million, including an earlier close from RPM Ventures, Arboretum Ventures  and Wolverine Venture Fund. www.arbormetrix.com

First Aid Shot Therapy, a Hillsborough, Calif.-based developer of OTC medicines in 'shot' form, has raised an undisclosed amount of Series B funding. Sofinnova Ventures and Redmile Group co-led the round, and were joined by return backers Sofinnova HealthQuest, Clearwell Group and Mark Rampolla. www.firstaidshottherapy.com

Private Equity Deals

ARX Equity Partners and Darby Private Equity have acquired Gramex 2000 Kft, a Hungarian manufacturer and bottler of nonalcoholic beverages. No financial terms were disclosed.www.gramex2000.hu 

Battery Ventures has acquired a controlling stake in Data Physics Corp., a San Jose, Calif.-based maker of test and measurement solutions for noise and vibration applications. No financial terms were disclosed. www.dataphysics.com

Bebe Stores Inc. (Nasdaq: BEBE), a Brisbane, Calif.-based women's apparel designer and retailer, has hired Guggenheim Securities to explore a possible sale to private equity, according to Reuters. The company has a current market cap of approximately $430 million. www.bebe.com

Cabot Credit Management has agreed to acquire Marlin Financial Group, a UK-based purchaser of non-performing consumer debt, from Duke Street Capital and company founder Martin Dunphy. The deal is valued at approximately £295 million. Cabot is majority-owned by Encore Capital Group(Nasdaq: ECPG), with J.C. Flowers & Co. holding the remainder. www.marlinfinancialgroup.com


Argos Therapeutics Inc., a Durham, N.C.-based developer of immunotherapies for the treatment of cancer and infectious diseases, raised $45 million in its IPO. The company priced 5.6 million shares at $8 per share, compared to plans to offer 4.25 million shares at between $13 and $15 per share. It will trade on the Nasdaq under ticker symbol ARGS, while Piper Jaffray, Stifel and JMP Securities served as lead underwriters. Shareholders include Pharmstandard International SA (35.1% pre-IPO stake), Forbion Capital Partners (18%), TVM Capital (10.7%), Lumira Capital (9%), Intersouth Partners (7.8%), Caisse de depot et placement de Quebec (5.4%), Morningside Group, Green Cross Corp. and Aurora Funds. www.argostherapeutics.com

Bio Blast Pharma Ltd., an Israel-based drug company focused on genetic and metabolic diseases, has filed for a $35 million IPO. It plans to trade on the Nasdaq, with Aegis Capital Corp. serving as sole underwriter. www.bioblast-pharma.com

Bufab, a Swedish maker of fasteners and other small components for the manufacturing market, has filed for an IPO in Stockholm that would value the company at upwards of $286 million. Shareholders include Nordic Capital. www.bufab.com

Castlight Health, an online application that lets companies provide employees with personalized shopping tools for healthcare benefits, has filed for a $100 million IPO. It plans to trade on the NYSE under ticker symbol CSLT, with Goldman Sachs and Morgan Stanley serving as lead underwriters. Fortune previously reported on the company's confidential filing. Castlight reports a $62 million net loss on $13 million in revenue for 2013, compared to a $35 million net loss on $4 million in revenue for 2012. Shareholders include Venrock (20.6% pre-IPO stake), Oak Investment Partners (15.8%), Maverick Capital (10.2%), Fidelity Investments (9.8%) and The Wellcome Trust (8.7%). www.castlight.com

Geopark Ltd., a Santiago, Chile-based oil and gas exploration and productions company, raised around $95 million in its IPO. The company priced 13.5 million shares at $7 per share, compared to earlier plans to offer 20 million shares at between $8 and $10 per share. It will trade on the NYSE under ticker symbol GPRK, while J.P. Morgan, BTG Pactual and Itau BBA served as lead underwriters. The company's stock already traded on both London's AIM and the Santiago Offshore Stock Exchange.www.geo-park.com

GoPro Inc., a Half Moon Bay, Calif.-based camera maker, announced that it has filed a confidential IPO draft registration with the SEC. Backers include Foxconn International, Riverwood Capital, Steamboat Ventures, Sageview Capital, Walden International and U.S. Venture Partners.www.gopro.com

Rundong Automobile Group, a Chinese luxury car dealership company, is planning to raise up to $300 million via a Hong Kong IPO in the first half of this year, according to IFR. The company is backed by Kohlberg Kravis Roberts & Co. www.rundong-auto.com.cn

Semler Scientific, a Portland, Ore.-based developer of medical devices that measure arterial blood flow, has decreased its IPO pricing terms from 1.15 million being offered at $12-$14 per share to 1.18 million shares being offered at $7.50-$9.50 per share. It plans to trade on the Nasdaq under ticker symbol SMLR, with Aegis Capital serving as sole underwriter. www.flochec.com

Tecogen, a Waltham, Mass.-based maker of combined heat and power products, has filed for a $5 million IPO. It plans to trade on the Nasdaq under ticker symbol TGEN, with Scarsdale Equities serving as sole underwriter. The company had withdrawn a prior IPO registration last October.www.tecogen.com


Alibaba Group has offered to acquire the 72% stake it does not already hold in in China-based digital mapping company AutoNavi Holdings Ltd. (Nasdaq: AMAP) for approximately $1.58 billion in cash, or $21 per American depository share (26% premium to Friday's closing price). www.autonavi.com

CNA Financial Corp. (NYSE: CAN) has agreed to sell Continental Assurance Co., a provider of life and group insurance, to Wilton Re Holdings Ltd. CNA said that the deal would generate around $615 million in net proceeds (including from a dividend). www.cna.com

HudBay Minerals Inc. (TSX: HBM) has made an unsolicited offer to acquire Augusta Resource Corp. (TSX: AZC) at an enterprise value of approximately C$540 million, or C$2.96 per share (18% premium to Friday's closing price). Vancouver-based Augusta said in a statement that its board would meet this week to discuss the approach. www.augustaresource.com

Interfor (TSX: IFP) has agreed to acquire Tolleson Ilim Lumber Co., a Perry, Ga.-based sawmill operator, from Ilim Timber for approximately $185 million, including nearly $130 million in cash.www.interfor.com

Nestle SA is "exploring ways to reduce its 29% stake in L'Oreal (Paris: OR), according to Bloomberg. The position is currently valued at around $30 billion. www.nestle.com

Ready Roast Nut Co., a Hughson, Calif.-based nut processor, has agreed to acquire the assets (of bankrupt Portales, Calif.-based peanut producer Sunland Corp. for $18.5 million. www.readyroast.com

Tarsus Group PLC (LSE: TRS) has acquired the assets of U.S. healthcare event organizerHealthScienceMedia Inc., including its flagship Cardiometabolic Health Congress, for around $14 million ($10m in cash). Tarsus also said that it has acquired a 60% stake in Turkish trade exhibition company SADA for upwards of £5.6 million. www.tarsus.com

Vintage Capital Management has offered to acquire rent-to-own electronics and furniture chainAaron's Inc. (NYSE: AAN) for around $2.3 billion, or $30.50 per share (12.8% premium to last Thursday's closing price). In a letter, Vintage said that it had privately tried to acquire Aaron's multiple times in 2011, but that it was "summarily ignored." www.aarons.com

Forbes Media is expecting final takeover bids today, with Bloomberg reporting that remaining suitors include Axel Springer (Germany), Fosun International (China) and Spice Global Investments (Singapore). Forbes Media shareholders include Elevation Partners. http://www.forbesmedia.com

Regal Beloit Corp. (NYSE: RBC) has acquired Hy-Bon Engineering Co., a Midland, Texas–based provider of vapor recovery solutions for oil and gas applications, from Pfingsten Partners. No financial terms were d

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About This Author
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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