NEW YORK (AP) — RetailMeNot, a provider of online coupon codes for retailers, plans to raise up to $230 million from an initial public offering of its common stock.
In a regulatory filing, the Austin, Texas, company said that it plans to list on the Nasdaq under the “SALE” ticker symbol.
RetailMeNot Inc. did not disclose how many shares are expected to be offered or what the projected price range is.
The company, whose websites include RetailMeNot.com and VoucherCodes.co.uk, said in the filing that it had digital coupons for more than 60,000 retailers and brands in 2012. It had contracts with more than 10,000 paid retailers as of Dec. 31.
RetailMeNot said that it plans to use its net proceeds from the IPO to pay dividends on outstanding shares of preferred stock and to repay six promissory notes. It expects to use the remainder of the proceeds for working capital and other general corporate purposes, including to develop new technologies, fund capital expenditures or make investments in or acquisitions of other businesses, solutions or technologies.
The company won’t receive any proceeds from shares sold by selling stockholders.
RetailMeNot’s 2012 net income after preferred dividends was $26 million on revenue of $144.7 million. In 2011, it reported a loss of $47.8 million on revenue of $80.4 million.
