May 25, 2011 / 12:26 AM / 9 years ago

Active Network IPO prices below range at $15-source

* Company had anticipated range of $16-$18 a share

* Company has priced IPO for 11 million shares-underwriter

SAN FRANCISCO, May 24 (Reuters) - Active Network Inc, an online service for managing events, has priced an initial public offering of 11 million shares at $15 apiece, below its anticipated range of $16 to $18 a share, according to an underwriter.

The weak showing stands in contrast to the recent stellar debuts of Internet firms like LinkedIn Corp LNKD.N and Yandex (YNDX.O), both of which upped their price ranges ahead of their initial public offerings.

Active Network, which had a net loss of roughly $27.3 million on revenue of $279.6 million in 2010, plans to use the proceeds of the offering to retire debt and for acquisitions and general corporate purposes.

The company provides an Internet-based service that allows customers to manage registrations for events such as golf tee times and campsites reservations, as well as to administer the events and communicate with participants.

According to Active Network’s prospectus, the company counts more than 47,000 customers.

Active Network is expected to list on the New York Stock Exchange under the symbol ACTV. (Reporting by Alexei Oreskovic and Clare Baldwin; Editing by Gary Hill)

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