No discount: Groupon prices IPONovember 3, 2011: 7:00 PM ET
As first reported by Kara Swisher, the company not only priced its IPO above the proposed $16-$18 range, but also added an extra 5 million shares.
The $20 per share price would bring the total offering value to $700 million. That's just a shade below the $750 million it targeted back in June, and would give the Chicago-based daily deals company an initial market cap of approximately $12.65 billion. That would rank its market cap at #323 among all U.S. stocks.
When Groupon last raised money in the private markets, it was done at a post-money valuation south of $5 billion. The vast majority of that round -- a $950 million Series E deal this past January -- was used to provide liquidity to early investors and employees.
Overall, Groupon had raised over $560 million in direct venture capital, from firms like Accel Partners and New Enterprise Associates.
Groupon (GRPN) is expected to begin trading tomorrow morning on the Nasdaq.
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