NetSuite Takes Steps Toward IPO
NetSuite Inc., San Mateo, CA, an on-demand business-management software provider focused on small- and medium-sized companies, is moving closer to its initial public offering.
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According to various news reports, the company expects the IPO to total 6.2 million shares of common stock priced between $13 and $16 each. Based on this, NetSuite’s market capitalization would be between $773.6 million and $952.2 million, according to the AP. The company expects to raise net proceeds of nearly $90 million from the IPO.
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The proceeds will be used to pay a balance on the company’s secured line of credit, but also may be used to make acquisitions.
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NetSuite’s controlling shareholder is Take Ventures LLC, …
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