The 2020 Mid-Year Economic Update_long

NetSuite Takes Steps Toward IPO

NetSuite Inc., San Mateo, CA, an on-demand business-management software provider focused on small- and medium-sized companies, is moving closer to its initial public offering.
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According to various news reports, the company expects the IPO to total 6.2 million shares of common stock priced between $13 and $16 each. Based on this, NetSuite's market capitalization would be between $773.6 million and $952.2 million, according to the AP. The company expects to raise net proceeds of nearly $90 million from the IPO.
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The proceeds will be used to pay a balance on the company's secured line of credit, but also may be used to make acquisitions.
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NetSuite's controlling shareholder is Take Ventures LLC, ...

NetSuite Inc., San Mateo, CA, an on-demand business-management software provider focused on small- and medium-sized companies, is moving closer to its initial public offering.
&nbsp ;
According to various news reports, the company expects the IPO to total 6.2 million shares of common stock priced between $13 and $16 each. Based on this, NetSuite’s market capitalization would be between $773.6 million and $952.2 million, according to the AP. The company expects to raise net proceeds of nearly $90 million from the IPO.
&nbsp ;
The proceeds will be used to pay a balance on the company’s secured line of credit, but also may be used to make acquisitions.
&nbsp ;
NetSuite’s controlling shareholder is Take Ventures LLC, controlled by Oracle CEO Larry Ellison. Ellison will continue to own about 66% of common stock after the IPO.
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NetSuite recorded a loss of $20.6 million in the first nine months of the year; it grew sales from $47 million to $76.8 million, according to the AP article.
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NetSuite shares will be listed on the New York Stock Exchange under the symbol N.

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