June 6, 2004
Polypore International Inc. announces plans to go public less than one month after Willkie client Warburg Pincus LLC completed a $1.14 billion LBO of the Charlotte, N.C.-based filtration equipment maker.
On June 7, Polypore International Inc. announced plans to go public less than one month after Willkie client Warburg Pincus LLC completed a $1.14 billion LBO of the Charlotte, N.C.-based filtration equipment maker. Polypore has not indicated how many shares it would sell or at what price, but expects to raise approximately $345 million in its initial public offering of common stock. Because of its solid cash flow, Polypore is seen as a prime candidate to go public via new, hybrid debt-and-stock instruments called income deposit securities, which include an interest-paying note component. The June 8 edition of The Daily Deal notes that partner Steven Gartner is serving as issuer’s counsel.