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Eyeblaster Reins In IPO Target

In March, Eyeblaster (now calling itself MediaMind) filed with the Securities and Exchange Commission to raise up to $115 million in an initial public offering of common stock. An SEC filing now reveals that the online ad campaign management firm only plans to raise $73 million -- or three-quarters of the $115 million sum. In March, Eyeblaster did not reveal how many shares it plans to sell, their expected price, or where they will be listed. As The Wall Street Journal notes, "The U.S. market for initial public offerings has been patchy lately, with many companies reining in debuts by cutting the size or the price of offerings -- or both -- or shelving deals entirely."

The New York-based company actually filed for an IPO back in March 2008, but had to cancel its plans due to rough market conditions. Hardly an anomaly, at least 26 tech companies canceled their IPOs that year, according to Thomson Reuters data. Institutions and investors underwriting this latest IPO include J.P. Morgan Securities, Deutsche Bank Securities, Pacific Crest Securities LLC, FBR Capital Markets & Co, ThinkEquity, and Broadpoint Capital, according to a preliminary prospectus filed with the SEC.



Read the whole story at The Wall Street Journal »

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