Key Developments: Shutterstock Inc (SSTK.N)
Latest Key Developments (Source: Significant Developments)
Shutterstock Inc Announces Closing Of Initial Public Offering And Exercise Of Underwriters' Option To Purchase Additional Shares
Shutterstock Inc announced it has closed its previously announced initial public offering of 4,500,000 shares of common stock at a price to the public of $17.00 per share. In connection with the initial public offering, the underwriters exercised in full their option to purchase an additional 675,000 shares from the Company. As a result, the total initial public offering size was 5,175,000 shares. Morgan Stanley, Deutsche Bank Securities and Jefferies acted as the bookrunning managers for the offering. RBC Capital Markets, Stifel Nicolaus Weisel and William Blair acted as co-managers for the offering. Full Article
Reuters reported that Shutterstock Inc plans to sell 4.5 million shares in its Initial Public Offering (IPO) at between $13 and $15 each. The Company would raise $67.5 million at the top of this range, much below the up to $115 million it filed to raise in May. The amount of money a company says it will raise in its first filing is used to calculate registration fees and is often a placeholder, with the actual proceeds being different. The Company, which will have a market value of $493 million at the top-end of the expected price range, plans to list its stock on the New York Stock Exchange under the symbol "SSTK". Morgan Stanley, Deutsche Bank Securities and Jefferies are lead underwriters for the IPO. Full Article
Shutterstock Inc announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to a proposed initial public offering of its common stock. The number of shares to be offered and the price range for the offering have not yet been determined. The bookrunning managers of the proposed transaction will be Morgan Stanley, Deutsche Bank Securities and Jefferies. RBC Capital Markets, Stifel Nicolaus Weisel and William Blair will be acting as co-managers. Full Article
NEW YORK - Global equity markets rallied on Thursday, with the S&P 500 index closing at a five-year high, while the dollar pared losses against the euro as surprisingly strong U.S. housing and labor market data signaled strength in the world's largest economy.