CafePress Prices IPO At $19/Share, Above Estimated Range

CafePress To Present At Raymond James Conference ; Webcast At 11:00 AM ET

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3/28/2012 10:01 PM ET

CafePress Inc, e-commerce platform enabling customers worldwide to create, buy and sell personalized products, announced the pricing of its initial public offering of 4.5 million common at $19.00 per share, above its estimated offering price range.

In an amended regulatory filing with the U.S. Securities and Exchange Commission on March 27, the company had expected to price the initial public offering of 4.5 million common shares between $16 and $18 per share.

The San Mateo, California-based company shares are expected to begin trading on The Nasdaq Global Select Market on March 29, 2012 under the symbol "PRSS."

Of the shares of common stock in the offering, CafePress is offering 2.5 million shares and selling stockholders are offering 2 million shares.

In addition, certain selling stockholders have granted underwriters a 30-day option to buy 675 thousand additional shares to cover over-allotments, if any.

The company intends to use the net proceeds from this offering for general corporate purposes, including working capital and capital expenditures. In addition, the company may use a portion of the net proceeds to acquire or invest in complementary businesses, products or technologies.

Founded in 1999, the company allows people to create their own designs for t-shirts, stickers, coffee mugs and other products, which the company then helps sell to customers.

J.P. Morgan Securities LLC and Jefferies & Company, Inc. are acting as joint book-running managers for the offering. Cowen and Company, LLC, Janney Montgomery Scott LLC and Raymond James & Associates, Inc. are acting as co-managers.

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by RTT Staff Writer

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