GrubHub prices upsized IPO at $26, above the $23-$25 range

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GrubHub, an online portal for food delivery service supporting 28,800 restaurants in 600 cities, raised $193 million by offering 7.4 million shares (46% insider) at $26, above the upwardly revised $23 to $25 range. The company offered 376,000 more shares (all insider) than anticipated. At its offer price, GrubHub commands a fully diluted market cap of $2.2 billion (enterprise value of $2.0 billion). GrubHub will list on the NYSE under the symbol GRUB. Citi and Morgan Stanley were the joint bookrunners on the deal.

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This article appears in: News Headlines , IPOs


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