Angie's List Files Registration Statement for Proposed Follow-On Offering
INDIANAPOLIS, May 1, 2012 (GLOBE NEWSWIRE) -- Angie's List, Inc. (Nasdaq: ANGI) today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission (the "SEC") for a proposed public offering of shares of its common stock. Angie's List is proposing to sell up to $10 million of its shares. The remaining shares will be sold by Angie's List stockholders.
The proceeds of the primary portion of the offering will be used to fund the company's advertising strategy to drive membership growth and for general corporate purposes, including working capital. Angie's List will not receive any proceeds from shares of common stock to be sold by the selling stockholders. The principal purposes of the offering are to facilitate an orderly distribution of shares by the selling stockholders and increase the company's public float.
BofA Merrill Lynch will be the bookrunning manager of the proposed offering. A copy of the preliminary prospectus, when available, may be obtained from the offices of BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, attention: Prospectus Department, or email email@example.com
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement on Form S-1 may be accessed through the SEC's website at edgar.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 state 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.
About Angie's List
Angie's List collects consumer reviews on local service providers ranging from home improvement to healthcare in more than 550 service categories. More than one million paying households in the United States rely upon Angie's List to help them make the best hiring decisions. Members get unlimited access to local ratings via Internet or phone, exclusive discounts, the Angie's List Magazine and help from the Angie's List complaint resolution service.