Zulily to Price IPO at $16-$18 a Share, Valuing Deals Site at About $2 Billion
Cash image copyright Julia Ivantsova
Discount shopping site Zulily said in an SEC filing today that it is looking to price shares during its upcoming IPO at $16 to $18. With the company offering 6,377,500 shares, Zulily would raise just shy of $115 million if it priced at $18 a share. That price would also value the Seattle-based company at around $2 billion.
Current shareholders are selling an additional 5.1 million shares in the offering, the company said. Zulily also said it would make 1.7 million more shares available to its underwriters should they sell all of the company’s and selling shareholders combined 11.5 million shares.
Zulily estimated it would net $98.1 million after expenses and the underwriters’ discount should it price in the middle of its range at $17 a share.
In a recent filing, the company said it generated $439 million in revenue in the first nine months of this year, up 116 percent from last year.