Local.com Hoping To Raise $15.5 Million From IPO

Local.com has announced this morning that they have priced an underwritten public offering of 4 million shares of common stock at a price of $4.25 per share. The company’s net proceeds after discounts, commissions, and expenses would be around $15.5 million. Local.com is working with underwriting company Canaccord Genuity.

According to TechCrunch, Canacoord has a 30-day option to purchase up to an additional 600,000 shares of common stock. Local.com runs a search engine to find local businesses in the U.S. The company claims that 20 million consumers use Local.com per month.

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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