Angie’s List Sets Price Range, IPO Could Raise $105.6 Mln


Angie’s List said Wednesday that it planned to sell roughly 8.8 million shares at $11 to $13 each.

The company, at the mid-point of the range, could raise$105.6 million. The company itself is offering 6.25 million shares, while selling stockholders, which includes senior management, are providing 2.5 million shares, according to an SEC filing. Angie’s List is expected to trade on the Nasdaq under the ticker “ANGI.”

BofA Merrill Lynch is acting as bookrunner for the deal, while other underwriters include Allen & Co., Stifel Nicolaus Weisel and RBC Capital Markets. The underwriters have the option to buy an additional 1.3 million shares.

Angie’s List IPO comes as other high profile deals are on the docket. Groupon is expected to go public Friday, while Zynga is reportedly seen launching its IPO before Thanksgiving.

In 1995, Angie Hicks founded Angie’s List in Columbus, Ohio. The company, now based in Indianapolis, provides a way for consumers to share reviews of local professionals that provide “critical needs” like home, health care and auto services, according to the filing. Angie’s List has 1 million paid members, the filing says. Hicks is currently the company’s chief marketing officer.

Battery Ventures is selling shares in the offering. Before the IPO, Battery owned about 9 million shares or 18.2% and is offering 403,224 shares. The VC will see its stake fall to 15.4% after the IPO.

BV Capital is also selling 574,376 shares and its stake is expected to drop to 9.3% from 11.6%, the filing says.

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