Thursday June 24, 11:09 am Eastern Time
InsWeb sets IPO at four million common
insweb.com
WASHINGTON, June 24 (Reuters) - Online insurance operator InsWeb Corp. said Thursday it will sell up to four million common shares in its initial stock offer to the public.
In an amended initial public offering filing with the Securities and Exchange Commission, the Redwood City, Calif.,-based company estimated the initial stock price will be between $11 and $13 per share.
Previously, the company did not disclose the amount of stock to be offered nor the estimated initial selling price.
The company has applied to trade on Nasdaq under the stock symbol (Nasdaq:INSW - news).
The offering will be made through Goldman Sachs & Co., Bancboston Robertson Stephens, Donaldson Lufkin & Jenrette and E*Offering.
Net proceeds will be used for general corporate purposes, principally working capital and capital expenditures.
After the offering, outstanding common will total 32,285,578 shares. |
