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.

 

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 powered by Disqus

Advertisement

Advertisement

Advertisement

From The IR Blog

FPO

Philip Masiello / E-Commerce

3 reasons retailers fall short in email and social marketing

Reason one: They’re constantly trying to sell their customer, rather than to help and engage ...

FPO

Rotem Gal / E-Commerce

7 surprising e-commerce trends for 2017

Consumers will engage with products and brands in new ways online in the year ahead.

Research Guides

Advertisement