In case you missed it, Groupon, the daily “deals” coupon vendor, today filed a revised prospectus with the Securities & Exchange Commission to list its stock on the Nasdaq under the sympol “GRPN.” The company plans to offer 34.5 million shares, including an over-allotment allocation, at a range of between $16 and $18, which would make the offering worth half a billion to $621 million in size.
Based on an expected 630.4 million class A common shares outstanding once the offering takes place, the company would be worth $11.35 billion.
The prospectus, which follows a previous update offered on October 7th, lists revenue in the last nine months through September of $1.12 billion, on “gross billings” of $2.75 billion. That is an increase from the $688.11 million recorded in the prior prospectus for the six months through June 30th.
Interestingly, some of the company’s operating expenses rose more slowly than did revenue, with the result that the operating loss in the last nine months, $218.4 million, is almost the same as the $218.2 million recorded through June. It appears the company is following through on its promise to ratchet back spending on marketing and selling, as suggested in the prior prospectus.
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