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RetailMeNot Prices IPO At Mid-point Of Expected Range

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RetailMeNot, Inc., which operates the digital coupon marketplace, announced its initial public offering of 9.09 million shares of its Series 1 common stock at $21.00 per share, at middle of estimated range.

In the amended S-1 filing with the SEC, the company had estimated the initial public offering price of Series 1 common stock of between $20.00 and $22.00 per share.

Of the shares in the offering, 4.545 million shares are being offered by RetailMeNot and 4.545 million shares are being offered by selling stockholders.

The Austin, Texas-based company shares are expected to begin trading on July 19, 2013, on the NASDAQ Global Select Market under the ticker symbol "SALE."

In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1.36 million shares of Series 1 common stock at the same price per share to cover over-allotments, if any.

RetailMeNot said it will not receive any proceeds from the sale of shares by the selling stockholders.

Morgan Stanley & Co. LLC, Goldman, Sachs & Co. and Credit Suisse Securities (USA) LLC are serving as joint book-running managers for the offering.

Net income attributable to common stockholders for the first quarter ended March 2013 was $20 million, higher than $2 million in the prior year period, while net revenues climbed to $40.56 million from $29.65 million last year, according to regulatory filing.

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by RTT Staff Writer

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