DivX, Inc. Announces Pricing of Initial Public Offering
September 22 2006 - 8:00AM
Business Wire
DivX, Inc. (NASDAQ:DIVX) today announced the pricing of its initial
public offering of 9,100,000 shares of common stock at a price to
the public of $16.00 per share. 7,461,538 shares are being offered
by DivX and 1,638,462 shares are being offered by certain of its
stockholders. In addition, the selling stockholders have granted to
the underwriters a 30-day option to purchase up to an additional
1,365,000 shares of common stock to cover over-allotments, if any.
DivX's common stock will be listed on The Nasdaq Global Market
under the symbol "DIVX." The offering is being made through an
underwriting syndicate led by J.P. Morgan Securities Inc. acting as
sole book-running manager. Banc of America Securities LLC, Cowen
and Company, LLC, Canaccord Adams Inc. and Montgomery & Co.,
LLC are acting as co-managers. A registration statement relating to
these securities was declared effective on September 21, 2006. This
release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction. The offering
of these securities is being made only by means of a written
prospectus, copies of which may be obtained by contacting the
prospectus department at J.P. Morgan Securities Inc., 4 Chase
Metrotech Center, Brooklyn, NY 11245, (718) 242-8002. About DivX
DivX creates products and services designed to improve the
experience of media. Our first product offering was a video
compression-decompression software library, or codec, which has
been actively sought out and downloaded over 180 million times in
the last four years, including over 50 million times during the
last twelve months. We have since built on the success of our codec
with other consumer software, including the DivX Player
application. We distribute this software from our website,
DivX.com, which was visited on average by over five million unique
visitors per month during the second quarter of 2006. We also
license our technologies to consumer hardware device manufacturers
and certify their products to ensure the interoperable support of
DivX-encoded content. Over 46 million DivX Certified hardware
devices have been shipped worldwide, including over 10 million
devices reported to us by our customers during the second quarter
of 2006. In addition to technology licensing to consumer hardware
device manufacturers, we currently generate revenue from software
licensing, advertising and content distribution.
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