Wall Street Journal: Energy Recovery IPO Ends String of Losses

“A process that helps water-desalination plants recycle energy drew investors to the initial public offering of Energy Recovery Inc. on Wednesday, creating some excitement in an otherwise barren new-stock market. The San Leandro, Calif., company’s IPO rose 17% to $10 on the Nasdaq Stock Market, from its offer price of $8.50. A total of 14 million shares were sold at a price within its expected $7 to $9 price range, which was set by underwriters Citigroup Inc. and Credit Suisse Group AG.” Poten Capital Services was an advisor to the Company in connection with the transaction.”