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Investing

comScore Already Tapping Capital Markets… Too Soon (SCOR)

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By Douglas A. McIntyre Updated Published

comScore, Inc. (NASDAQ:SCOR) has only been public since June of this year, and it is and insiders are already tapping the public markets for cash.  In a filing this morning comScore filed to sell 6,052,453 shares in a secondary offering.  Of the shares being sold, only 1,344,809 shares of common stock are coming from the company itself and selling stockholders are selling 4,707,644 shares.  That number is too skewed to be that well received by the market. 

This should take this one off anyone’s radar that was hoping for a buyout in the near future, and this will take care of the status on our own 24/7 Wall St. Small Cap Internet Watch List as any sort of potential buyout target any time in the near future.  The underwriting group is huge: Credit Suisse, Deutsche Bank, Jefferies, William Blair, Friedman Billings Ramsey, Needham, ThinkEquity, and Signal Hill.

We have screened this and reviewed it for our own Special Situation Investing Newsletter and for our "Old Media/New Media" letter, but this one won’t be under review for a while now.

comScore’s ratings and rankings have become quite popular on WallStreet and on Silicon Valley’s Main Street.  But this is accessing thecapital markets too soon.  comScore closed at $28.74 yesterday, and the52-week trading range is $19.70 to $42.00.  Shares are down over 1.5%at the open in reaction.

Jon C. Ogg
November 21, 2007

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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