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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

6/27/13

Tremor Video Inc. (TRMR)

Tremor Video is struggling on its first day of trading, down 15.00% at $8.50. The company provides an in-stream video ad network for internet-connected devices like computers, smartphones and tablets. The company was able to raise $75 million in its IPO today; however shares slipped exactly $1.50. Tremor saw its shares offered at $10 when the shares opened for trading this level was lower than the expected $11-$13 range. Both underwriters (Credit Suisse and Jefferies) have the ability to buy an additional 1.1 million shares which could raise another $11.3 million for Tremor. Investors aren't thrilled with the company so far and those who purchased shares on the open seem to be fleeing.

Bellatrix Exploration Ltd. (BXE)

Bellatrix Exploration is getting a good bounce today, up 13.33% at $5.92. The oil and gas exploration company saw its shares jump after news it closed a deal for a joint venture with Grafton Energy Co. The deal is worth $122 million, of which Grafton will contribute 82% or $100 million. Furthermore, in one year Grafton will have a one-time option to add an additional $50 million. Bellatrix said the deal will accelerate development on a portion of Bellatrix's extensive undeveloped land holdings. The joint venture is in Willesden Green and Brazeau areas of West-Central Alberta. Bellatrix shares climbed up $0.70 today, but need a little more momentum to reach their 52-week high of $6.85.
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