DealerTrack Sets Price for IPO
LAKE SUCCESS, N.Y. -- DealerTrack Holdings Inc. has announced the initial public offering of 10 million shares of its common stock at a price of $17 per share. Shares of DealerTrack's common stock will be traded on the Nasdaq National Market under the trading symbol "TRAK."
LAKE SUCCESS, N.Y. -- DealerTrack Holdings Inc. has announced the initial public offering of 10 million shares of its common stock at a price of $17 per share. Shares of DealerTrack’s common stock will be traded on the Nasdaq National Market under the trading symbol "TRAK."
In the offering, 6,666,667 shares are being sold by DealerTrack and 3,333,333 shares are being sold by the selling stockholders. In addition, DealerTrack has granted the underwriters a 30-day over-allotment option to purchase an additional 1.5 million shares. DealerTrack will not receive any of the proceeds from the sale of shares by the selling stockholders.
Lehman Brothers acted as the book-running manager for the offering. JPMorgan and Wachovia Securities acted as co-lead managers, and William Blair & Company and SG Cowen & Co. acted as co-managers.
A registration statement relating to this offering was filed with and declared effective by the Securities and Exchange Commission. The offering is being made solely by means of a prospectus.
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