Local.com Hoping To Raise $15.5 Million From IPO
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
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.