Commercial photo website Shutterstock sets terms for $63 million US IPO

By Renaissance Capital,

Shutterstock photo

Shutterstock, an online marketplace for royalty-free images and videos, announced terms for its IPO on Thursday. The New York, NY-based company plans to raise $63 million by offering 4.5 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Shutterstock would command a market value of $460 million.

Shutterstock, which was founded in 2003 and booked $144 million in sales for the 12 months ended 6/30/2012, plans to list on the NYSE under the symbol SSTK. Morgan Stanley, Deutsche Bank and Jefferies are the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: SSTK

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