Yelp (YELP) IPO Prices at $15, Above Expected Range
Tweet Send to a Friend
Get Alerts YELP Hot Sheet
Up)
Trade YELP Now!
Yelp Inc. (NYSE: YELP) priced its initial public offering of 7,150,000 shares of Class A common stock at a price to the public of $15.00 per share, above the expected $12-$14 range. The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "YELP" on Friday, March 2, 2012.
59,873,181 shares are expected to be outstanding following the offering, giving the company a market cap of nearly $900 million if they open at the $15 price.
Goldman, Sachs & Co. is the lead bookrunning manager and representative of the underwriters for the offering. Citigroup Global Markets Inc. and Jefferies & Company, Inc. are joint bookrunning managers, and Allen & Company LLC and Oppenheimer & Co. Inc. are co-managers for the offering.
In the first nine months of 2011, the company generated $58.4 million in net revenue, representing 80% growth over the first nine months of 2010. In this same period last year, they generated a net loss of $7.6 million and an adjusted EBITDA loss of $1.1 million.
Yelp is a company that connects people with local businesses.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
59,873,181 shares are expected to be outstanding following the offering, giving the company a market cap of nearly $900 million if they open at the $15 price.
Goldman, Sachs & Co. is the lead bookrunning manager and representative of the underwriters for the offering. Citigroup Global Markets Inc. and Jefferies & Company, Inc. are joint bookrunning managers, and Allen & Company LLC and Oppenheimer & Co. Inc. are co-managers for the offering.
In the first nine months of 2011, the company generated $58.4 million in net revenue, representing 80% growth over the first nine months of 2010. In this same period last year, they generated a net loss of $7.6 million and an adjusted EBITDA loss of $1.1 million.
Yelp is a company that connects people with local businesses.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Friday's Hot IPOs Get Even Hotter (MKTO) (DATA)
- Tableau Software (DATA) IPO now indicated $42-$44
- Tableau Software (DATA) IPO now indicated $45-$48
Create E-mail Alert Related Categories
Hot IPOs, Hot List, IPOsRelated Entities
Citi, Jefferies & Co
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
