Demand Media, Inc. Announces Exercise of Option to Purchase Additional Shares in its Initial Public Offering
January 27 2011 - 7:15PM
Business Wire
Demand Media, Inc. (“Demand Media”) (NYSE: DMD) announced today
that, in connection with Demand Media’s initial public offering,
the underwriters have exercised in full their option to purchase an
additional 675,000 shares from Demand Media and 660,000 shares from
the selling stockholders at the initial public offering price of
$17.00 per share. The full exercise of the option to purchase
additional shares brings the total number of shares of common stock
to be sold in the initial public offering to 10,235,000 shares.
Demand Media will not receive any of the proceeds from the sale of
shares of common stock by the selling stockholders.
Goldman, Sachs & Co. and Morgan Stanley & Co.
Incorporated are acting as joint book-running managers for this
offering. UBS Securities LLC, Allen & Company LLC, Jefferies
& Company, Inc., Stifel, Nicolaus & Company, Incorporated,
RBC Capital Markets Corporation, Pacific Crest Securities LLC,
Raine Securities and JMP Securities LLC are acting as co-managers
for this offering. This offering will be made only by means of a
written prospectus forming part of the effective registration
statement relating to these securities. Copies of the prospectus
may be obtained by contacting Goldman, Sachs & Co., 200 West
Street, New York, NY 10282, Attention: Prospectus Department (Tel:
+1 866 471 2526; Fax: +1 212 902 9316; e-mail:
prospectus-ny@ny.email.gs.com) or Morgan Stanley & Co.
Incorporated, 1585 Broadway, New York, NY 10036, Attention:
Prospectus Department (Tel: +1 866 718 1649; e-mail:
prospectus@morganstanley.com).
A registration statement on Form S-1 relating to the initial
public offering of shares of Demand Media’s common stock was
declared effective by the U.S. Securities and Exchange Commission
(the “SEC”) on January 25, 2011. Copies of the registration
statement can be accessed through the SEC’s website at www.sec.gov.
This press 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 jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
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