Angie's List (ANGI) Announces Follow-On Offering for $10M in Shares

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Angie's List, Inc. (Nasdaq: ANGI) today announced that it has filed a registration statement with the U.S. SEC for a proposed public offering of shares of its common stock. Angie's List is proposing to sell up to $10 million of its shares. The remaining shares will be sold by Angie's List stockholders.

The proceeds of the primary portion of the offering will be used to fund the company's advertising strategy to drive membership growth and for general corporate purposes, including working capital. Angie's List will not receive any proceeds from shares of common stock to be sold by the selling stockholders. The principal purposes of the offering are to facilitate an orderly distribution of shares by the selling stockholders and increase the company's public float.

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