Internet Brands Inc., an Internet media company, said Friday it plans an initial public offering of its Class A stock, according to a filing with the Securities and Exchange Commission, the Associated Press reports on Forbes.com.
The company did not disclose the number or expected price range of the shares to be offered, but indicated the maximum price would total up to $100 million. The total offering price is estimated by the company solely to calculate the expected registration fee and often changes from the first regulatory filing.
The El Segundo, Calif.-based company plans to offer Class A shares in the IPO. A group of stockholders is also selling an unspecified number of shares.
Internet Brands will not receive any proceeds from the shares of Class A stock sold by the shareholders. Internet Brands has granted the underwriters the option of purchasing an unspecified amount of additional shares to cover any overallotments.
