Loyalty Alliance IPO watch: Loyalty Alliance Enterprise Corp announced to postpone its IPO (initial public offering).
Extension filed the IPO registration statement on July 2011 IPO, with an expected IPO price range of $14-$16, and postponed its IPO plan in August 2011. In April 2012, Loyalty Alliance restarted the IPO and cut the IPO price range to $12-$14, in order to raise funds of $66 million. On May 12, the Loyalty Alliance IPO price range was lowered again for the second time to $6-$8. On the basis of the median of the lowered Loyalty Alliance IPO price range, the company’s financing target was reduced to $35.7 million.
Macquarie Capital and Needham&Co. were working as the lead underwriters for the Loyalty Alliance IPO. Loyalty Alliance was established in October 2000, engages in marketing services and expansion in the electronic coupons business primarily through telephone marketing.
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