Prices IPO, Hopes To Raise $115 Million


Genealogy site expects to raise $115 million as it plans to price 7.4 million shares for an IPO, the AP reported. The Provo, Utah-based company wants to use the $48.4 million in proceeds to pay down debt and for general business operations. A portion of those funds will be used for acquisitions and technology investments. The anticipated prices range from $12.50 to $14.50 per share. About 1.1 million shares will be made available to underwriters to cover over-allotments, which raise the total raised from the IPO to $115 million.

This is the second time in two months that went to the capital markets. The company, which filed for a $75 million IPO in August.

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