Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

RELATED NEWS
Trade PRSS now with 

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.

Register
To receive FREE breaking news email alerts for CafePress Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Stocks moved notably higher over the course of the trading day on Friday after initially showing a lack of direction. The gains on the day extended the recent upward trend by the markets, with the tech-heavy Nasdaq reaching its best closing level in almost a month. Looking to capitalize on news of an Ebola diagnosis in New York City, Republican Senate candidate Scott Brown issued a statement Friday criticizing his Democratic opponent Sen. Jeanne Shaheen, D-N.H., for "waffling" on a travel ban. In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.