Keating Capital Companies, TrueCar, Zoosk File for IPOs
TrueCar files IPO registration statement to raise $125 million Zoosk files IPO registration statement to raise $100 million GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Today Keating Capital, Inc. (the “Company”) (Nasdaq: KIPO), a closed-end fund that has elected to be regulated as a business development company under the Investment Company Act of 1940, notes that two of its portfolio companies, TrueCar and Zoosk, have filed registration statements with the U.S. Securities and Exchange Commission (“SEC”) for proposed IPOs.
TrueCar files for $125 million IPO
TrueCar, Inc., a negotiation-free car-buying platform, filed a registration statement on April 4, 2014, with the SEC to raise up to $125 million in an initial public offering. The Santa Monica, California-based company, which was founded in 2005 and booked $134 million in revenue for the year ended December 31, 2013, plans to list on Nasdaq under the ticker symbol TRUE. TrueCar initially filed confidentially on February 14, 2014. Goldman Sachs and J.P. Morgan are the joint bookrunners on the deal. No pricing terms were disclosed.
Keating Capital made a $3 million common stock investment in TrueCar on September 26, 2011.
Zoosk files for $100 million IPO
Zoosk, Inc., an online dating platform with 26 million members, filed a registration statement on April 16, 2014, with the SEC to raise up to $100 million in an initial public offering. The San Francisco, California-based company, which was founded in 2007 and booked $178 million in revenue for the year ended December 31, 2013, plans to list on the NYSE under the ticker symbol ZSK. BofA Merrill Lynch, Citi and RBC Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
Keating Capital made a $3 million investment in the Series E Convertible Preferred stock of Zoosk on January 27, 2012.
Registration statements relating to these securities being offered in the proposed IPOs have been filed with the SEC but have not yet become effective. Accordingly, Keating Capital can give no assurances that either TrueCar or Zoosk will complete an IPO, and even if completed, when it may be completed and the total amount raised, or at what price and under what terms.
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