FOGD prices deal:
biz.yahoo.com
Thursday November 4, 11:13 pm Eastern Time
Fogdog sets IPO at 6 mln shares for $8-$10/share
WASHINGTON, Nov 4 (Reuters) - Fogdog Inc., a leading online sporting goods retailer, filed Thursday to sell 6 million shares in a projected price range of $8 and $10 per share in its initial public offering, according to a Securities and Exchange Commission filing.
The Redwood City, Calif.-based company said it will use the net proceeds - an estimated $48.7 million based on a median price of $9 per share - of the IPO for general corporate purposes, including marketing and sales, working capital and capital expenditures.
Offering around 60,000 items and 500 brands, Fogdog sells goods for 30 different sports and offers its wares on the Internet at fogdog.com.
The company, which has applied to list its shares on Nasdaq under the symbol ``FOGD', had $2.6 million in revenues in the nine months ending Sept. 30, 1999 and posted $15.1 million in net losses in the same period.
After the IPO there will be about 35.7 million outstanding shares in the company. That will result in a market value of about $321.3 million for Fogdog, based on an IPO price of $9 per share.
In the event of heavy demand, the underwriters, Credit Suisse First Boston, J.P. Morgan & Co., Thomas Weisel Partners LLC and Warburg Dillon Read LLC, will have the option of buying 900,000 more shares. |
