We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

   Technology Stocksdivine interVentures, Inc. (DVIN)

Previous 10 Next 10 
To: Glenn Petersen who wrote (110)7/12/2000 12:16:45 PM
From: The Other Analyst
   of 246
Here is a chuckle, which is a typical example of what happens when reporters try hard to make their stories as timely as possible by throwing in something hot off the wires.

Divine InterVentures ventures out
IPO prices a bottom of range after delays

By Steve Gelsi,
Last Update: 12:01 PM July 12, 2000 NewsWatch
Latest headlines

NEW YORK (CBS.MW) -- Divine InterVentures is venturing forth Wednesday after the Internet incubator endured an arduous process to take itself public.

The Chicago-based company priced its IPO at $9, at the bottom rung of its lowered $9-to-$10 pricing range, in an initial public offering led by Robertson Stephens.

It’s raising about $129 million by selling 14.3 million shares. That figure would put Divine $9 million above the $120 million it needed to raise in order to cash in on funding commitments from several big-name partners.

Divine’s timing may be boosted by positive news in the Internet sector Wednesday as the market reacts to a better-than-expected earnings report from Yahoo (YHOO). Shares of Yahoo surged 14 7/8, or 14 percent, to 120 3/4 on Wednesday morning

Yahoo is NOT a would-be incubator like DVIN. The link between Yahoo rebounding after fears that its earnings would disappoint, and then recovering when they did not disappoint, and divine is......non-existent.

I'm waiting to see where they open the stock. This is a company that should not have come public at this stage. The public has no way of evaluating its existing holdings, and therefore its track record, let alone its prospects.

Share RecommendKeepReplyMark as Last Read

To: neverenough who wrote (115)7/12/2000 12:18:15 PM
From: The Other Analyst
   of 246
Where does the broker get the shares to lend? The shares have not even been delivered to the buyers on the day trading begins.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)

To: The Other Analyst who wrote (117)7/12/2000 12:19:50 PM
From: neverenough
   of 246
Devine trading under TEMPV, unbelievable...

Share RecommendKeepReplyMark as Last ReadRead Replies (2)

To: neverenough who wrote (118)7/12/2000 12:23:47 PM
From: The Other Analyst
   of 246
I see 8 11/32 as a price. Glad I passed on this IPO. Usually you want to ask for any shares you can get since it is a near-sure thing that they will pop. Usually you don't need to bother reading the prospectus, because the profit you will make on the tiny allocation of shares you get will barely pay for the value of your reading time. But there are always exceptions to such generalizations.

Share RecommendKeepReplyMark as Last Read

To: neverenough who wrote (118)7/12/2000 1:04:07 PM
From: Bald Man from Mars
   of 246
still holding all your 600 shares ???
probably will not stop sliding until under 5 ...

Share RecommendKeepReplyMark as Last ReadRead Replies (2)

To: Bald Man from Mars who wrote (120)7/12/2000 1:15:27 PM
From: neverenough
   of 246
Sold 400 TEMPV at 8 1/2, I'll hold the other 200 for a while...

Share RecommendKeepReplyMark as Last Read

To: Bald Man from Mars who wrote (120)7/13/2000 11:56:27 PM
From: neverenough
   of 246
dude, the b2b sector is making a come back, dvin might turn out to be a good play after all.

How bout that, buy in the 60's sell in the 80's...

Share RecommendKeepReplyMark as Last ReadRead Replies (2)

To: neverenough who wrote (122)7/14/2000 12:22:17 AM
From: Bald Man from Mars
   of 246
that, didn't pull the trigger, damn it ...

Share RecommendKeepReplyMark as Last Read

To: astyanax who wrote (92)7/16/2000 10:24:38 AM
From: Glenn Petersen
   of 246
Good article in today's Chicago Tribune about DVIN's relative importance to the rest of the tech sector in Chicago:

Divine faces danger of getting left behind
The area's dot-com scene is vibrant, and it's now clear that the fortunes of 'Flip' Filipowski and Chicago's future as a tech haven are not as intertwined as some have supposed.

Share RecommendKeepReplyMark as Last Read

To: neverenough who wrote (122)8/6/2000 1:32:43 PM
From: Glenn Petersen
   of 246
The DVIN quiet period ends Monday. They have also closed on the Goose Island site:

Divine closes deal on Goose Island site
Development's scope unclear as tech firm reviews options

By Barbara Rose
and Thomas A. Corfman
Tribune Staff Writers
August 5, 2000

Divine Interventures Inc. has bought the land on which it
planned to build a $60 million showcase headquarters,
though the long-anticipated, city-backed project is almost
certain to be scaled back.

An executive of Divine's real estate subsidiary, DotSpot
Inc., confirmed Friday the newly public company recently
completed its purchase of 7½ acres of industrial land at
the northern tip of Goose Island, about 12 blocks north of

The purchase, for about $12 million, from a partnership
that included Divine's founder and CEO, Andrew "Flip"
Filipowski, keeps the company's options open while the
year-old Internet incubator—conceived at the height of
dot-com stock euphoria—wrestles with strategies to
survive in a more skeptical market.

Divine's stock has been trading around $8 a share, below
its $9 initial public offering price on July 12.

Plans for Goose Island have been on hold at least since
April, when the tech stock collapse contributed to
repeated delays in Divine's public offering.

"Our entire effort was directed to the IPO," said DotSpot
chief operating officer and general counsel Louis Cohen.
"Now that we've (purchased) the land, it's one of our
primary orders of business."

When conceived a year ago by Filipowski with two
partners—real estate developer W. Harris Smith and
David Kahnweiler, president of Rosemont-based Colliers
Bennett & Kahnweiler—the project was envisioned as a
400,000-square-foot high-tech campus, with community
facilities including a digital museum, schoolhouse and a
parking garage.

Cohen said the real estate firm is preparing several
scenarios to present to Divine's senior executives and
board, including a phased development that would start
with 200,000 square feet of space for start-ups and
Divine senior executives.

Kahnweiler and Smith controlled the land, which is the
site of a former Klemp Corp. metal-grate factory and
warehouse. They formed a partnership in which
Filipowski had a 33 percent stake, with the intent of
developing a facility that Divine would lease.

But Divine had an option to buy the land from the
partnership for $9.75 million plus associated costs such as
land clearance for a total of about $12 million, according
to Divine's filings with securities regulators. A July 31
deadline associated with the option prompted Divine's

The purchase gives Divine control in deciding whether to
jointly develop and own the facility or sell to a developer
and become a tenant.

Said Cohen, "There are all kinds of possibilities including a
sale and leaseback."

Real estate sources said Divine had explored for months
alternatives to the Goose Island site, including the former
Montgomery Ward complex on Chicago Avenue, as well
as Loop locations.

Divine's offices are scattered from leased space on North
Elston Avenue to suburban Lisle, where many corporate
functions are housed.

The decision to develop space on Goose Island was
driven by Mayor Richard Daley's pledge last year to
provide as much as $14 million in tax increment financing
for that site, sources said.

"They pushed hard and got some fairly significant
entitlements," a source said. "They wouldn't have closed
on that option if it didn't make financial sense."

Share RecommendKeepReplyMark as Last ReadRead Replies (1)
Previous 10 Next 10