KAYAK Software Corp. (KYAK) announced that it is offering 3.50 million Class A shares and expects the initial public offering price to be between $22.00 and $25.00 per share. The company added that this is its initial public offering, and no public market exists for its shares.
Upon the completion of this offering, the company would have two classes of authorized common stock, namely Class A common stock and Class B common stock. Following this, the holders of Class B common stock shall be able to exercise in respect thereof not less than 98.6% of the voting power of KAYAK Software Corp.
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