Tags: Endurance | Goldman | IPO | stock

Endurance International Files for IPO of Up to $400 Million

Monday, 09 Sep 2013 04:13 PM

Endurance International Group Holdings Inc., a provider of cloud-based services, filed with U.S. regulators to raise up to $400 million in an initial public offering of its common stock.

The Massachusetts-based company provides services such as website design creation, e-mail and commerce solutions, online marketing, mobile and productivity solutions to small- and medium-sized businesses.

Spending on cloud-based services among small- and medium-sized ventures is projected to grow by 28 percent to $96 billion between 2012 and 2015, Endurance International said in a filing.

The company said its revenue more than tripled to $292.2 million, while its net losses widened to $139.3 million from $44.3 million during the last three years.

Endurance International, which counts investment funds and entities affiliated with Warburg Pincus and Goldman Sachs among its shareholders, did not reveal how many shares it planned to sell or their expected price.

The company intends to list on the Nasdaq under the symbol "EIGI" and named Goldman Sachs, Credit Suisse and Morgan Stanley as lead underwriters to the offering.

Endurance International plans to use the proceeds for working capital and other general corporate purposes.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

© 2017 Thomson/Reuters. All rights reserved.

   
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Endurance International Group Holdings Inc., a provider of cloud-based services, filed with U.S. regulators to raise up to $400 million in an initial public offering of its common stock.
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2013-13-09
Monday, 09 Sep 2013 04:13 PM
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