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September 27, 2012 08:02 pm GMT
Online stock photography company Shutterstock, which filed for an IPO in May, has today filed its S-1. It will be offering 4,500,000 shares,pricing them between $13-15, the document revealed today. But while initially the company had planned to raise up to $115 million -- as noted in documents filed days before Facebook went public -- today it appeared to be singing a different tune. With shares priced at $14, "We estimate that the net proceeds to us from this offering will be approximately $54.2million." In other words, about half of the originally intended amount.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/b9zIivMFMbk/
The Facebook Effect? Shutterstock Prices IPO Shares At $13-$15 To Raise $54.2M, Half The Original $115M
Online stock photography company Shutterstock, which filed for an IPO in May, has today filed its S-1. It will be offering 4,500,000 shares,pricing them between $13-15, the document revealed today. But while initially the company had planned to raise up to $115 million -- as noted in documents filed days before Facebook went public -- today it appeared to be singing a different tune. With shares priced at $14, "We estimate that the net proceeds to us from this offering will be approximately $54.2million." In other words, about half of the originally intended amount.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/b9zIivMFMbk/
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