NEW YORK – Genealogy Web site Ancestry.com has succeeded in raising $100 million in its initial public offering. With more than a million paying subscribers, little competition, a small debt load and a record of increasing revenue, it fared better than other IPOs that have recently priced below their filing ranges.
The Provo, Utah-based company, which is the world’s largest online resource for birth certificates and marriage records, priced the shares at $13.50 each late Wednesday – the midpoint of its expected $12.50 to $14.50 range. Underwriters are being offered up to an additional 1.1 million shares to cover overallotments, which would boost total proceeds to nearly $115 million.
Read the full article in the November 4, 2009 edition of the Fort Wayne Journal Gazette.
