The largest digital coupon marketplace in the world, RetailMeNot, announced the price of its shares that were up for grabs in its initial public offering. The company was offering around 9 million Series 1 common stock at a price of US$21.00 per share. RetailMeNot was offering half of the shares while the other half was offered by selling stockholders. The shares were being traded in NASDAQ Global Select Market under the symbol "SALE" starting July 19.
Underwriters were given a 30-day option by selling stockholders. This option allowed underwriters to buy up to about 1 million Series 1 common stock. These stocks will be sold at the same price and will cover any overallotments. RetailMeNot will receive no portion of proceeds from the stock sale of shareholders.
The offer was jointly run by the company's book-running managers, namely Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co., and Morgan Stanley & Co. LLC. The co-lead managers were Jefferies LLC and RBC Capital Markets Corporation. Meanwhile, co-managers included William Blair & Company, L.L.C. and Stifel, Nicolaus & Company, Incorporated.
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