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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • GrubHub Raises IPO Price Range 1 comment
    Apr 2, 2014 11:11 AM | about stocks: GRUB

    Originally published at

    GrubHub, Inc. (NYSE:GRUB), an online food ordering website, has updated the price range for its initial public offering. The company, founded in Chicago in 2004, initially last week announced pricing between $20.00 and $22.00 per share and has now increased the price range to between $23.00 and $25.00. The company plans to offer a total of 7 million shares, with 4 million from the company and 3 million from early investors, though that number could increase to 8.1 million with a 1.1 million purchase option for underwriters. GrubHub won't earn proceeds from the sale of investors' shares, will use its share of the proceeds to continue running the business. Excluding the underwriters 1.1 million share purchase option, GrubHub would be worth nearly $2B after completing its offering. Citigroup and Morgan Stanley have been listed as the lead bookrunners to the offering.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: GRUB
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    Ahhh another internet IPO. At least this one has been around more than a couple of years before rushing into going public, right?
    2 Apr 2014, 09:18 PM Reply Like
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