11.   The next two offerings missed, and Eastwick came back with more heat.

12.   The other offerings differed markedly in tone.

13.   The other two offerings are interestingly cast, too.

14.   The two offerings are coming out amid a slow IPO market hurt by investor fears of interest rate increases and the volatile U.S. stock market.

15.   The two offerings are complementary rather than overlapping.

16.   The two offerings ran into trouble in part because the companies touted their investment strategy rather than their plans for attracting profitable reinsurance business, analysts said.

17.   While Rinaldi agrees that Applix may have been a leader in combining the two offerings, he also pointed out that being first may not be enough.