Friday, November 16, 2007

Internet Brands Lowers IPO Offering Price, Size

El Segundo-based Internet Brands disclosed today in a filing with the SEC that it has lowered its offering price on its IPO to $8.00 per share, and also lowered the number of shares the firm hopes to offer to the public. The firm, which had initially priced its IPO at between $10.00 and $12.00 per share, also said it would only offer 6 million shares of the firm, down from 9.5 million shares. Internet Brands is looking to trade on the NASDAQ Global Market under the symbol INET. The firm's IPO is being underwritten by Thomas Weisel Partners and Jeffries & Company. Internet Brands is backed by Idealab, Foundation Capital, and Clearstone Ventures.