E-commerce software company ChannelAdvisor sets terms for $75 million IPO
ChannelAdvisor, which provides e-commerce software that
enables customers to sell across multiple online channels,
announced terms for its IPO on Thursday. The Morrisville,
NC-based company plans to raise $75 million by offering 5.8
million shares at a price range of $12 to $14. At the midpoint of
the proposed range, ChannelAdvisor would command a fully diluted
market value of $288 million.
ChannelAdvisor, which was founded in 2001 and booked $56 million in sales for the 12 months ended March 31, 2013, plans to list on the NYSE under the symbol ECOM. ChannelAdvisor initially filed confidentially on December 19, 2012. Goldman Sachs and Stifel are the joint bookrunners on the deal.