Tuesday, May 10, 2011
Active Network Sets IPO Trading Range
San Diego-based Active Network, the operator of online sports registration, team website, and related sports businesses, has set the trading range for its IPO. The firm said in an updated S-1 Tuesday afternoon that it is selling 11,000,000 shares of its common stock in its IPO on the NYSE, with an expected initial public offering price of $16.00 and $18.00 per share. The firm has filed to list as ACTV. Active Network's IPO is being underwritten by BofA Merrill Lynch, Citi, Allen & Company LLC, Stifel Nicolaus Weisel, RBC Capital Markets, ThinkEquity LLC, and WR Hambrecht+Co. Venture investors in the company include ESPN, Canaan Partners, and ABS Ventures, among others.