Forget Alibaba, the Yodlee initial public offering is almost upon us.
Yodlee will imminently price its IPO, sources say. The offering might come as earlier as tomorrow morning, we hear. At the latest, the IPO appears as though it will price by “mid next week.”
Yodlee is planning to issue 6.25 million shares with an overallotment option up to 937,500 additional shares, according to 24/7 Wall Street. The current maximum proposed price for shares would be $13, which could raise as much as about $93 million. The company plans to file on Nasdaq under the symbol YDLE.
Insiders close to Yodlee say that this exit wasn’t the company’s ideal path. The plan was to continue to grow the company, and eventually secure another round of funding. But investors wanted an IPO to cut their losses. Tomorrow, it seems.Like This Post