Credit: Shutterstock photoViggle, a mobile app that rewards users for watching TV and listening to music, lowered the proposed deal size for its upcoming IPO on Thursday. The New York, NY-based company now plans to raise $40 million by offering 4.4 million shares at a price range of $8 to $10. The company previously filed to offer 2.1 million shares for $23.50. At the midpoint of the revised range, Viggle will raise 20% less in proceeds than previously anticipated.
Viggle, which was founded in 2011 and booked $17 million in sales for the 12 months ended December 31, 2013, plans to list on the NASDAQ under the symbol VGGL. Ladenburg Thalmann & Co. is the sole bookrunner on the deal. It is expected to price on April 24, 2014 .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
