Woodland Hills-based ReachLocal has updated its IPO pricing range, indicating this week in an updated S-1 that it expects the initial pricing of its IPO to be between $17.00 and $19.00 per share. The firm is looking to IPO on the Nasdaq Global Market as RLOC. At $19.00 per share and 4,166,667 shares the offering would reap the firm around $91.0M in funds. ReachLocal's IPO is being underwritten by J.P. Morgan, BofA Merrill Lynch, Citi, Piper Jaffray, Needham & Company LLC, and Gleacher & Company. The firm is venture backed by VantagePoint Venture Partners, Rho Ventures, Galleon Group, European Founders Fund, and others. ReachLocal helps small businesses advertise their companies on the internet.
Top NewsWednesday, May 5, 2010
ReachLocal Sets IPO Pricing Range