Groupon (GRPN) IPO Surges Higher; Gets $18B Value
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The IPO for Groupon, Inc. (Nasdaq: GRPN) is open for trading. Shares opened at $28 after pricing at $20, above the expected $16-$18 range. 35 million shares were sold in the offering, up from the 30 million originally expected.
Goldman Sachs, Morgan Stanley and Credit Suisse are leading the underwriting. Groupon has granted the underwriters a 30-day option to purchase up to an additional 5,250,000 shares of Class A common stock to cover over-allotments, if any.
The total number of Class A and B shares that will be outstanding following the offering will be 632,803,328 shares. This suggests a market cap of $17.7 billion approximately $ billion based on the current price.
The company posted revenue of $1.1 billion for the first nine months of this year, up from $140.7 million for the first nine months of last year. The company posted a loss of $308.1 million in the current 9-month period versus a loss of $77.7 million in the same period last year.
UPDATE: Shares of Groupon closed at $26.11.
Goldman Sachs, Morgan Stanley and Credit Suisse are leading the underwriting. Groupon has granted the underwriters a 30-day option to purchase up to an additional 5,250,000 shares of Class A common stock to cover over-allotments, if any.
The total number of Class A and B shares that will be outstanding following the offering will be 632,803,328 shares. This suggests a market cap of $17.7 billion approximately $ billion based on the current price.
The company posted revenue of $1.1 billion for the first nine months of this year, up from $140.7 million for the first nine months of last year. The company posted a loss of $308.1 million in the current 9-month period versus a loss of $77.7 million in the same period last year.
UPDATE: Shares of Groupon closed at $26.11.
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