Netflix Underwriters Exercise Options17 Jun, 2002 By: Hive News
Underwriters of Netflix, Inc.'s initial public offering have exercised in full their overallotment option and purchased an additional 825,000 shares of the company's common stock at $15 per share, less the applicable underwriting discount.
The purchase of the overallotment shares brings the total number of shares of the company's May 2002 initial public offering to 6,325,000 common shares and the total gross proceeds raised to $94,875,000. Netflix shares trade on the Nasdaq National Market under the symbol NFLX.
The offering was led by Merrill Lynch & Co., with Thomas Weisel Partners LLC and U.S. Bancorp Piper Jaffray acting as co-managers.