Update (12/9/98): Ticker symbol for XOOM Inc is XMCM
Xoom Inc files $46 mln IPO of common stock
WASHINGTON, Aug 28 (Reuters) - Internet marketing company Xoom Inc filed Friday with the Securities and Exchange Commission for an initial public offering of $46 million in common stock.
The San Francisco-based company will use net proceeds to repay debt and for general corporate purposes, including working capital and potential acquisitions.
Xoom has applied to trade the shares on Nasdaq under the symbol ''XOOM.''
The total number of shares in the offering and their initial public offering price per share were not disclosed in the filing.
Underwriters Bear, Stearns & Co Inc and Dain Rauscher Wessels have an over-allotment option on an undisclosed number of additional shares. |
