logo
Share SHARE
FONT-SIZE Plus   Neg

Endurance Expects To Price IPO In Range Of $14 And $16 Per Share

Edurance international group said it expects to sell 23.4 million shares in a range of $14 and $16 per share in its initial public offering.

The Burlington, Massachusetts-based company said it has applied for listing of its common stock on the Nasdaq Global Market under the symbol under the symbol "EIGI".

The company, which was founded in 1997, expects to report net loss in a range of $28.9 million-$30 million and revenue to be in a range of $130 million-$131 million for the three months period ended Septemebr 30, 2013.

The communications infrastructure company expects to generate as much as $430.4 million in proceeds and those will be used to repay $286.3 million in debt and satisfy obligations related to its acquisition of Directi Web Technology Pvt. Ltd., as well as for general corporate purposes.

The company said that on December 22, 2011, investment funds and entities affiliated with either Warburg Pincus or Goldman Sachs acquired a controlling interest.

Goldman Sachs, Credit Suisse and Morgan Stanley are the joint bookrunners on the deal.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Samsung Electronics Co. Ltd. launched Galaxy S8 flagship smartphones, its first new smartphone since the withdrawal of Galaxy Note 7. The Samsung Galaxy S8 and S8 Plus smartphones will go on sale on April 21. At a media event in New York on Wednesday, the company launched the two versions of the Galaxy S8, code-named Dream internally, with 6.2-inch and 5.8-inch curved screens. Consumers in Nigeria are calling for a boycott of Coca-Cola products sold in the African nation after a high court judge ruled that the products could be "poisonous". Justice Adedayo Oyebanji of the Lagos High Court ruled that high levels of benzoic acid and sunset additives in Coca-Cola's soft drinks could pose a health risk to consumers when mixed with ascorbic acid, commonly known as Vitamin C. Charles Murphy, a partner at New York hedge fund Paulson & Co., fell to his death after jumping out of a hotel window in Manhattan on Monday. Murphy was found dead on the fourth-floor terrace of the Sofitel New York Hotel after he jumped from a window on the 24th floor.
comments powered by Disqus
Follow RTT