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Xoom Prices IPO At $16, Above Estimated Range

Xoom Corp, a global online money transfer provider, announced that it has priced initial public offering of 6.325 million common shares at $16.00 per share, above the estimated range.

In an amended regulatory filing with the U.S. Securities and Exchange Commission, the company had expected to price the initial public offering of 4.65 million common shares between $13 and $15 per share.

The San Francisco, California-based company said that 5.22 million shares will be offered by it and 1.10 million shares will be offered by selling stockholders.

The company granted underwriters a 30-day option to purchase up to an additional 948,750 shares of common stock to cover over-allotments.

The compay specified that its shares will begin trading on the NASDAQ Global Market on February 15, 2013 under the symbol "XOOM."

Barclays Capital Inc. and Needham & Co., LLC are acting as joint book-running managers for the offering, and Raymond James & Associates and Robert W. Baird & Co. are acting as co-managers for the offering.

by RTTNews Staff Writer

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