CreditCards.com Cancels IPO

CreditCards.com Inc., an Austin, Texas-based online destination for consumers to search, compare, and apply for credit cards, has withdrawn its IPO registration. The company had planned to sell around 10.73 million common shares at between $13 and $15 per share. It would have had an initial market cap of approximately $421 million, were it to price at the high end of its range. Credit Suisse and Citi were serving as co-lead underwriters.

 

Austin Ventures sponsored a recap of CreditCards.com in late 2006, and holds a 65.6% position. Also participating on the recap were American Capital Strategies (9.6%) and company founder Dan Smith (16.1%). www.creditcards.com