San Diego-based The Active Network
, the operator of sports and community event registration services and websites, priced its IPO Wednesday evening, saying it will sell 11,000,000 shares of its common stock at $15.00 per share. The firm starts trading on the New York Stock Exchange this morning, as ACTV. Active priced below its expected initial offering range, which was $16.00 to $18.00 per share. Active'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. The firm's major investors are ESPN, Canaan Partners, and ABS Ventures.
posted on Wednesday, May 25, 2011
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