Synacor Inc announces IPO
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Number of Shares Offered:
| 6.8 million
||Jan 30, 2012
PRESS RELEASE - Synacor Inc sets IPO
Synacor Inc, partly owned by Intel Corp (INTC.O), said it expects its initial public offering of 6.8 million shares to be priced between $10.00 and $12.00 per share.
Synacor offers authentication and management services to companies offering on-demand content, primarily cable and telecom service providers and consumer electronics brands.
This is Synacor's second attempt to go public. It had earlier filed for an IPO in August 2007 with Bear Stearns -- the first investment bank to collapse during the financial crisis -- as one of its main underwriters.
Synacor will sell 5.45 million shares and selling stockholders, including chipmaker Intel, will sell about 1.36 million shares in the IPO.
Intel, which will sell about 104,000 Synacor shares, will hold about 7.7 percent in Synacor after the IPO.
BofA Merrill Lynch, Citigroup and Stifel Nicolaus Weisel are the lead underwriters to the offering.
The Buffalo, New York-based company expects its shares to trade on the Nasdaq under the symbol "SYNC."
Separately, Erickson Air-Crane Inc said its IPO of 5.35 million shares is expected to be priced between $13 and $15 per share.
Portland, Oregon-based Erickson, which makes heavy-lift helicopters, added Wedbush Securities to its list of underwriters to the IPO.
(Reporting by Sharanya Hrishikesh in Bangalore; Editing by Sreejiraj Eluvangal and Gopakumar Warrier)