Constant Contact: Premium Price & IPO Contact! (CTCT)
Constant Contact, Inc. (NASDAQ:CTCT) has announced the pricing of its initial public offering of 6,700,000 shares of its common stock at $16.00 per share, above the $12.00 to $14.00 previous indication. CIBC World Markets and Thomas Weisel Partners acted as joint book-runners for the offering, and William Blair, Cowen & Co., and Needham were co-managers. The 6,700,000 shares consist of 5,829,839 being sold by the Company and 870,161 being sold by certain stockholders of the company.
For those of you who don’t know Constant Contact, this company is one of the leaders in on-demand email marketing campaigns. In fiscal 2006, revenue was $27.6 million and its net loss was $7.8 million. In the six months ended June 30, 2007 revenue was $21.1 million and its net loss was $5.5 million. Here is a more detailed backgrounder with some of the relevant data from an amended filing.
We are getting ready to release our “Watch List”of small-cap Internet stocks to readers of our “Special Situation Investing Newsletter” in the coming days. These stocks are not active takeover candidates or active restructuring stocks today, but these are the smaller internet stocks we think could easily become prey under the right circumstances.
Jon C. Ogg
October 2, 2007
Jon Ogg produces the 24/7 Wall St. SPECIAL SITUATION INVESTING NEWSLETTER; he does not own securities in the companies he covers.