DivX Prices IPO, Set To Hit Market Today

DivX is set to hit the market this morning, saying that it has priced its initial public offering at $16.00 per share. DivX is offering 9,100,000 shares of its common stock on the Nasdaq today under the symbol DIVX, for a total IPO amount of $145.6M. The firm also said that its selling stockholders have been granted a 30-day option to purchase an additional 1,365,000 shares to cover over-allotments. DivX is a developer of video encoding/decoding technology that it licenses to hardware and software manufacturers. The firm's IPO is being underwritten by J.P. Morgan Securities, Banc of America Securities, Cowen asnd Company, Canaccord Adams, and Montgomery & Co. Among the venture capital backers of the firm are Cardinal Venture Capital, Draper Atlantic, Insight Venture Partners, Springboard-Harper, Wasatch Venture Fund, WI Harper Group, and Zone Ventures. Los Angeles-based Zone Ventures was the original investor in the firm.