Key Developments For LogMeIn, Inc.
LogMeIn, Inc. (LOGM.O) (Consolidated Issue listed on NASDAQ Global Market)
LogMeIn, Inc. Announces Pricing Of Secondary Offering
LogMeIn, Inc. announced that it has priced 3,125,000 shares of its common stock at $18.50 per share in a secondary public offering. 99,778 shares are being offered by the Company and 3,025,222 are being offered by selling stockholders. In addition, the underwriters have a 30-day option to purchase up to 468,750 additional shares of common stock from certain selling stockholders to cover over-allotments, if any. LogMeIn will not receive any proceeds from the expected sale of the shares offered by the selling stockholders. Joint book-running managers on the offering are J.P. Morgan Securities Inc. and Barclays Capital Inc. Thomas Weisel Partners LLC, Piper Jaffray, and RBC Capital Markets are acting as co-managers on the offering.
LogMeIn, Inc. Files Registration Statement For Proposed Public Offering
LogMeIn, Inc. announced that it has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed offering of 3,000,000 shares of common stock, of which up to 100,000 are expected to be offered by the Company and 2,900,000 are expected to be offered by selling stockholders. In addition, the underwriters will have a 30-day option to purchase up to 450,000 additional shares of common stock from the selling stockholders to cover over-allotments, if any. LogMeIn will not receive any proceeds from the expected sale of the shares offered by the selling stockholders. Joint book-running managers on the offering are J.P. Morgan Securities Inc. and Barclays Capital Inc.
LogMeIn, Inc. Issues Q4 Guidance In Line With Analysts' Estimates; Raises FY 2009 Guidance
LogMeIn, Inc. announced that for fourth quarter of 2009, it expects revenue to be in the range of $19.6-$19.9 million, non-GAAP net income to be in the range of $2.7-$3.0 million and non-GAAP net income per diluted share (EPS) to be in the range of $0.11-$0.12. Non-GAAP net income excludes an estimated $186,000 in amortization of intangibles and $600,000 in stock compensation expense. For fiscal 2009, it expects revenue to be in the range of $73.8-$74.1 million, non-GAAP net income to be in the range of $11.7-$12.0 million and non-GAAP EPS to be in the range of $0.55-$0.56. Non-GAAP net income excludes an estimated $743,000 in amortization of intangibles and $2.7 million in stock compensation expense. According to Reuters Estimates, analysts were expecting the Company to report revenue of $19.7 million, net income of $2.7 million and EPS of $0.11 for fourth quarter of 2009; revenue of $73.6 million, net income of $11.05 million and EPS of $0.53 for fiscal 2009.
LogMeIn, Inc. Issues Q3, FY 2009 Guidance
LogMeIn, Inc. announced that for the third quarter of 2009, it expects revenue to be in the range of $18.5 to $18.8 million, non-GAAP net income to be in the range of $2.4 to $2.7 million and non-GAAP net income per diluted share (EPS) to be in the range of $0.10 to $0.11. Non-GAAP net income excludes an estimated $186,000 in amortization of intangibles and $1.0 million in stock compensation expense. For fiscal 2009, the Company expects revenue to be in the range of $73.2 to $73.8 million, non-GAAP net income to be in the range of $10.9 to $11.5 million and non-GAAP net income per diluted share to be in the range of $0.51 to $0.54. Non-GAAP net income excludes an estimated $2.9 million in stock compensation expense and $744,000 in amortization of intangibles.
LogMeIn, Inc. Announces Closing of Initial Public Offering and Exercise of Over-Allotment Option
LogMeIn, Inc. announced it had closed its previously announced initial public offering of 7,666,667 shares of common stock at a public offering price of $16.00 per share. LogMeIn sold 5,750,000 shares, and selling stockholders sold the remaining 1,916,667 in the offering. The sale included all shares subject to the underwriters' over-allotment option. Joint book-running managers for the offering were J.P. Morgan Securities Inc. and Barclays Capital Inc. Thomas Weisel Partners LLC, Piper Jaffray & Co., and RBC Capital Markets Corporation acted as co-managers on the offering.
