Synacor files for $86.25 mln IPO
WASHINGTON, Aug 2 (Reuters) - Synacor Inc., which provides an Internet platform and other digital content services, on Thursday said it is planning an initial public offering of $86.25 million in common stock.
The company hired Deutsche Bank Securities, Bear Stearns & Co. Inc., Thomas Weisel Partners LLC, Canaccord Adams and Montgomery & Co. LLC to underwrite the IPO, according to a preliminary offering document filed with the U.S. Securities and Exchange Commission.
Intel Corp (INTC.O: Quote, Profile, Research, Stock Buzz) holds an 11.8 percent stake, Synacor disclosed in the SEC filing.
The Buffalo, New York-based company is seeking a Nasdaq listing under the symbol "SYNC." (Reporting by John Poirier)
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