IPO, feels like 1998-2000...

Discussion in 'Wall St. News' started by S2007S, Nov 5, 2009.

  1. S2007S


    If this market wasnt so saturated with worthless dollars that continue to be printed on a second to second basis this dot com would have never made it to the market.

    Internet company's (ACOM) initial public offering of at least 7.4 million shares priced at $13.50 each, the midpoint of the projected range.

    Shares will trade starting Thursday on the Nasdaq Global Select Market under the symbol ACOM.

    The company, which allows subscribers to comb through online records and trace their family trees, will sell at least 4.1 million shares while current holders will offer a minimum 3.3 million.

    Proceeds from the company's stock sale are intended for debt repayment, acquisitions and other uses.

    About 42 million shares will be outstanding after the IPO.

    Based in Provo, Utah, began in 1983 and claims to be the world's largest online resource for family history, with almost 1 million subscribers. The vast majority of its subscribers--82%--are Americans, with customers from the U.K. a distant second. It has several new international sites directed at countries ranging from Germany to China, and plans to expand further internationally. was acquired in December 2007 for $354.8 million by private-equity firm Spectrum Equity Investors.

    A number of private-equity outfits have been filing plans in result months to hold IPOs for their holdings, looking to take advantage of the still-rebounding stock market.

    For the first six months of the year,'s revenue rose 13% to $107.8 million as it signed up more subscribers, and earnings surged nearly eightfold to $8.2 million.