The Associated Press
Coupons.com has raised $168 million from an initial public offering of its common stock.
The company delivers digital coupons and Promotional Codes to consumers. Coupons.com said in a regulatory filing that more than 2,000 brands from more than 700 consumer packaged goods companies and many grocery, drug and mass merchandise retailers use its service.
The IPO of 10.5 million shares is above the 10 million shares initially expected in the offering, according to the filing. The offering priced at $16 per share, above the projected range of $12 to $14 per share.
Coupons.com Inc. is giving the underwriters an option to buy up to an additional 1.6 million shares.
Last year the Mountain View, Calif., company distributed 315 billion coupons, with 2.8 billion redeemed. Coupons.com said in its filing that it generated revenue from more than 1.3 billion transactions in 2013. That’s up 43 percent from 2012.
Coupons.com said in its filing that it plans to use the offering’s net proceeds for general corporate purposes, including working capital, sales and marketing activities, general and administrative matters and capital expenditures. The company said that it may also use part of the proceeds for the acquisition of, or investment in, technologies, solutions or businesses that complement its business. It may also use part of the proceeds to satisfy anticipated tax withholding and remittance obligations related to the settlement of its outstanding restricted stock units.
In 2013 Coupons.com reported revenue of $167.9 million. That’s up from $112.1 million in the previous year.
The shares are expected to start trading on the New York Stock Exchange on Friday under the “COUP” ticker symbol.
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