The Wall Street Journal reports that Ancestry.com released estimated terms for its pending initial public offering. The company will sell at least 4.1 million shares with prices somewhere between $12.50 and $14.50 each. According to my calculator, that should raise $50 million to $60 million. That's a bit less than the $75 million originally announced last August. However, another 3.3 million shares will also be sold by current stockholders.
Ancestry.com shares will trade on the NASDAQ Exchange under the symbol ACOM.
Ancestry.com stated that proceeds from the company's stock sale are intended for uses including debt repayment and acquisitions.
Acquisitions? I bet we will be hearing more news from Ancestry.com in the next year or two.
You can read more at http://online.wsj.com/article/BT-CO-20091020-704569.html.
NOTE: The Wall Street Journal often leaves articles in public view for a few days, then removes them. The above link is working as I write these words but may change in the near future.
