Ancestry.com prices 7.4 million shares in IPO, expects to raise $100 million before allotments: "NEW YORK — Genealogy Web site Ancestry.com Inc. plans to sell about 7.4 million shares in an IPO to raise about $100 million.
The Provo, Utah-based company expects to price the shares between $12.50 and $14.50 apiece. Underwriters are being offered up to an additional 1.1 million shares to cover overallotments, which would boost total proceeds to about $115 million.
About 45 percent of the shares will come from existing shareholders, the company said. Private equity firm Spectrum Equity Investors, through its affiliated funds, will own about 54.8 percent of the outstanding stock following the offering.
Ancestry.com plans to use net proceeds of about $48.4 million for general corporate purposes and to repay debt. The company said it may also use a portion to expand through acquisitions or investments in technologies."
Friday, October 23, 2009
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment