Omniture sets its IPO terms
Web analytics provider Omniture Inc. has set the terms of its initial public offering.
In a new filing with the Securities and Exchange Commission, Omniture says it plans to sell 10.7 million shares at a range of $7.50 to $9.00 per share.
Omniture, which filed for an IPO in April, has yet to set a date for the offering. Under the proposed offering, Omniture will sell 8.7 million shares, while current stockholders, such as private investors, will sell an additional 2 million shares. Morgan Stanley and Credit Suisse head the investment banking firms underwriting the transaction.
Omniture says it will use the proceeds to expand its sales and marketing program, improve its networking infrastructure and make a software licensing payment of $4 million. The IPO papers also state that Omniture posted 2005 sales of $42.8 million on a net loss of $17.4 million, compared with sales of $20.5 million and a net loss of $1.3 million in 2004.
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