ACTIVE Network and Its Products and Services in the News
SAN DIEGO, CA – May 24, 2011 – The Active Network, Inc., the leading provider of organization-based cloud computing applications, today announced the pricing of its initial public offering of 11,000,000 shares of common stock at a price to the public of $15.00 per share. The Company’s common stock will begin trading on the New York Stock Exchange under the symbol "ACTV" on May 25, 2011. Of the shares of common stock to be sold in the offering, Active Network is offering 8,222,222 shares, and selling stockholders are offering 2,777,778 shares. In addition, selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,650,000 shares to cover overallotments, if any. The Company will not receive any proceeds from the sale of shares by the selling stockholders.
BofA Merrill Lynch and Citi are acting as the joint-bookrunning managers for the offering, and Allen & Company LLC, Stifel Nicolaus Weisel, RBC Capital Markets, ThinkEquity LLC and WR Hambrecht+Co are co-managers.
A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on May 24, 2011. This offering is being made solely by means of a prospectus, copies of which may be obtained from: BofA Merrill Lynch, Attention: Prospectus Department, 4 World Financial Center, New York, NY 10080, email: email@example.com; and Citi, Attention: Prospectus Department, Brooklyn Army Terminal, 140 East 58th Street, 8th Floor, Brooklyn, NY 11220, 800-831-9146, email: BATProspectusdept@citi.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The Active Network, Inc. is a leading provider of organization-based cloud computing applications serving diverse market segments including business events, community activities, outdoors and sports. Our technology platform, ActiveWorks™, transforms the way organizers manage their activities and events by automating online registrations and streamlining other critical management functions, while also driving consumer participation to their events. Our flagship media property, Active.com, is the leading online community for people who want to discover, participate in, and share activities about which they are passionate. Headquartered in San Diego, California since 1999, the company has over 25 offices worldwide.
Mona Klausing, Active Network
Brinlea Johnson, The Blueshirt Group
© 2011 The Active Network, Inc. All rights reserved. Active.com is a registered trademark and Active Network is a trademark of The Active Network, Inc. All other trademarks are the property of their respective owners.