Ironplanet Files for $92 Million IPO
The Pleasanton, California-based company told the U.S Securities and Exchange Commission in a preliminary prospectus that J.P. Morgan, Deutsche Bank Securities, Cowen and Co, Piper Jaffray and Needham & Co LLC were underwriting the IPO.
“If the opportunity arises, we may use a portion of the net proceeds from this offering to acquire or invest in businesses, products or technologies that are complementary to our own,” the company said.
Ironplanet provides online marketplace for used heavy equipment. It posted revenue of $54.7 million in 2009, the filing showed.
The filing did not reveal how many shares the company planned to sell or their expected price. The company intends to list its common stock on the Nasdaq under the symbol “IRON”. (Reporting by Anurag Kotoky in Bangalore; Editing by Jarshad Kakkrakandy)
peHUB Note: Ironplanet raised nearly $47 million in VC funding from Accel Partners, Kleiner Perkins, Caterpillar Venture Capital, Dyncorp, Marubeni Corp., IGNITE Group and Windspeed Ventures.
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