ValueClick Plans IPO
Cost-per-click ad network ValueClick Inc. filed a registrationstatement with the Securities and Exchange Commission for an initial publicoffering that could raise up to $57.6 million.
Cost-per-click ad network ValueClick Inc. filed a registration statement with the Securities and Exchange Commission for an initial public offering that could raise up to $57.6 million.
All shares will be offered by ValueClick. The network charges advertisers only when a consumer clicks on a banner ad. Its principal clients include direct marketing and electronic commerce companies.
The company said it plans to use the proceeds of the IPO to expand sales and marketing efforts, improve its technology and possibly make acquisitions.
Volpe Brown Whelan & Company will act as the lead managing underwriter of the offering. Other managing underwriters include William Blair & Company, Prudential Securities and PrudentialSecurities.com.
The $57.5 million figure cited in the filing was a basis for calculating the SEC registration fee, the company said. It has applied to list its shares on Nasdaq under the symbol “VCLK.”
The company posted $5.4 million in revenue during the first six months of 1999 and $230,000 in net losses, according to the filing.
