Credit: Shutterstock photoGrubHub, an online portal for food delivery service supporting 28,800 restaurants in 600 cities, raised $193 million by offering 7.4 million shares (46% insider) at $26, above the upwardly revised $23 to $25 range. The company offered 376,000 more shares (all insider) than anticipated. At its offer price, GrubHub commands a fully diluted market cap of $2.2 billion (enterprise value of $2.0 billion). GrubHub will list on the NYSE under the symbol GRUB. Citi and Morgan Stanley were the joint bookrunners on the deal.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
