November 22, 2005, 12:00 AM

Liquidity Services files for IPO

Liquidity Services Inc., an owner of web sites that sell excess goods and wholesale products, has filed for an initial public offering.

Kurt Peters

Executive Editor

 

Liquidity Services Inc., operator of web sites that sell excess goods and wholesale products, has filed for an initial public offering.

In registration papers filed Nov. 14 with the U.S. Securities and Exchange Commission, Liquidity Services said it will use the proceeds for the repayment of $4.4 million in debt, working capital, general corporate purposes and possible future acquisitions.

The company did not say how many shares of stock will be sold.

For the fiscal year ended Sept. 30, Liquidity Services had revenues of $89.4 million and net income of $4.1 million. Revenue has grown at a compounded annual rate of 26% since fiscal year 2002, the company said.

During the past three fiscal years, the company has conducted more than 436,000 online transactions, generating about $264 million in gross merchandise value, according to the SEC filing. It ended the fiscal year with 386,000 registered buyers, up from 264,000 at the end of the 2004 fiscal year.

Friedman, Billings, Ramsey & Co. Inc. and RBC Capital Markets will act as joint book runners/co-lead managers and CIBC World Markets Corp. and Pacific Crest Securities Inc. will act as co-managers for the proposed offering.

Liquidity Services operates www.liquidation.com, www.govliquidation.com and www.uksurplus.com and www.goWholesale.com.

 

 

Comments

Sign In to Make a Comment

Comments are moderated by Internet Retailer and can be removed.

Not a member? Signup for free today!

Advertisement

Advertisement

Advertisement

Relevant Commentary

FPO

Sergio Pereira / B2B E-Commerce

Quill turns to its B2B customers for new ideas

Coming in April is a new section of Quill.com that will let customers and Quill ...

FPO

Charles Nicholls / E-Commerce

E-mail remarketing: three best practices to maximize revenue

Consumers who make it to the shopping cart are interested in buying. The chief strategy ...

Advertisement