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Groupon Prices IPO: 30M Shares at $16-18

Financial News Network
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October 22, 2011 AT 10:28 PM
This morning, Groupon announced that they will offer 30 million shares at a price range of $16-$18 per share, and will trade on the NASDAQ under symbol GRPN. The online deal site hopes to raise $510 Million dollars with the offering. Morgan Stanley (NYSE:MS), Goldman Sachs (NYSE:GS) and Credit Suisse (NYSE:CS) will all act as underwriters. The company also announced that they had Q3 Revenue of $430.2 million, and posted a net loss of $10.6 million in the quarter.