We are pleased to briefly point out some good news on what has been a choppy IPO market. Meru Networks, a WiFi network equipment provider to corporate customers, debuted this week with a well received offering. Meru priced at the top of the filing range, clearly indicating strong institutional investor interest in the offering. Perhaps more importantly, the stock traded up 28% on the first day of trading which generally signals that institutional investors were allocated less stock by the managing underwriter than desired, spurring aftermarket purchases. We hope this is the beginning of a sustainable trend and allow us to comfortably adapt our previous conclusion on the fundamental health of the IPO market.