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Marchex Inc announces proposed public offering of 5,714,000 shares of class B common stock


Wednesday, 19 Mar 2014 06:46am EDT 

Marchex Inc:Commence underwritten public offering of 5,714,000 shares of Marchex's Class B common stock pursuant to an effective shelf registration statement.Company will be offering 2,857,000 shares of its Class B common stock and additional 2,857,000 shares of its Class B common stock will be offered by certain existing shareholders identified in prospectus supplement relating to offering.Intends to grant to underwriters 30-day option to purchase up to additional 514,100 shares of Class B common stock to cover over-allotments, if any.Selling shareholders, collectively, intend to grant underwriters a 30-day option to purchase up to additional 343,000 shares of Class B common stock, if any, in each case at public offering price less underwriting discount.Intends to use net proceeds of offering for general corporate purposes, which may include acquisitions or licenses of, or investments in, products, services, technologies or other businesses.Marchex will not receive any of proceeds from sale of shares by selling shareholders.Deutsche Bank Securities will be lead book-running manager and representative of underwriters for offering.RBC Capital Markets and Piper Jaffray will be joint book-running managers.BMO Capital Markets and Stephens Inc. are co-managers for offering. 

Company Quote

7.83
-0.31 -3.81%
16 Sep 2014