The company says that it plans to price its shares between $9.50 and $11.50 when it goes public. October 31, 2013 9:09 AM PDT (Credit: Chegg) Move over, Twitter, there's another Web startup looking to raise some serious cash in an initial public offering (IPO). Chegg, the online startup that provides both study guides and a service to rent textbooks, has revised a prospectus, indicating that it plans to price its shares between $9.50 and $11.50 when it goes public. If Chegg can go off at the top of that range, it'll raise $172.5 million in its IPO. Chegg has also reserved the right to sell an additional $26 million in shares if shares are oversubscribed. Chegg is decidedly in the shadow of Twitter's major IPO. Still, if the company can land within the share range it's proposed, its value could near $1 billion. Chegg didn't say in its revised prospectus when it plans to go public, but that it has shared a price range indicates it'll happen sooner rather than later. (Via NY Times)
The company says that it plans to price its shares between $9.50 and $11.50 when it goes public.
(Credit: Chegg)
Move over, Twitter, there's another Web startup looking to raise some serious cash in an initial public offering (IPO).
Chegg, the online startup that provides both study guides and a service to rent textbooks, has revised a prospectus, indicating that it plans to price its shares between $9.50 and $11.50 when it goes public. If Chegg can go off at the top of that range, it'll raise $172.5 million in its IPO. Chegg has also reserved the right to sell an additional $26 million in shares if shares are oversubscribed.
Chegg is decidedly in the shadow of Twitter's major IPO. Still, if the company can land within the share range it's proposed, its value could near $1 billion.
Chegg didn't say in its revised prospectus when it plans to go public, but that it has shared a price range indicates it'll happen sooner rather than later.
(Via NY Times)
