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Questions about an IPO and subsequent Market Cap

I was looking into a random IPO recently. The company that I was reading about was VIT. Their market cap (MC) today is ~$218M. According to

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their successful IPO raised $65M.

According to

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$7.50-$9.50/3161843.htmltheir IPO price was $8.50/share, and they sold 7.65M shares.Therefore, they raised exactly $65,025,000 worth. This occured onDecember 14th, 2007, which was about one month ago. However, today, the MC of this company is ~$218M, and the share prices are *LESS* than they were during the IPO. They price at $6.07/share now.

Moreover, on their IPO, there were 7.65M shares, but today, according to

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, there are 36.05Mshares.

Here are my questions:

  1. Since they didn't have any secondary offerings, it really seems that they released 36.05M shares during their IPO(?). How do these analysts figure out that they raised M and not 6.4M (36.05M * .50/share) ?
  2. Why is there such a HUGE discrepancy between 36.05M shares (which is what they have today) and 7.65M shares (which is how much they sold at IPO)?
Reply to
tangent1.57
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$7.50-$9.50/3161843.html> their IPO price was $8.50/share, and they sold 7.65M shares.> Therefore, they raised exactly $65,025,000 worth. This occured on> December 14th, 2007, which was about one month ago.>

I would guess that there were 28.4M privately owned shares before the IPO.

Reply to
Andy F.

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