Monday, May 23, 2011

Active Network IPO Expected Wednesday

San Diego-based Active Network, the operator of online sports and event registration web sites, is expected to IPO this week on Wednesday, according to the NASDAQ's IPO calendar. Active Network has indicated it will sell 11,000,000 shares of its common stock in its IPO, at between $16.00 and $18.00 per share. The firm's underwriters are BofA Merrill Lynch, Citi, Allen & Company LLC, Stifel Nicolaus Weisel, RBC Capital Markets, ThinkEquity LLC, and WR Hambrecht+Co. The venture-backed firm has taken funding from ESPN, Canaan Partners, and ABS Ventures, among others. Active is aiming at to trade on the NYSE under the symbol ACTV.

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