Loyalty Alliance IPO watch: The company lowered its IPO (initial public offering) price range again to $6-$8, which is the second time that the company reduced the offering price range. Loyalty Alliance had filed the IPO registration statement with the U.S. Secutities and Exchange Commission on July 2011 and expected the issuing price of $14-$16, but postponed the offering in August 2011. In April this year, 2012, Loyalty Alliance relaunched the IPO and lowered the IPO price range to $12-$14 to raise $66 million.
On the basis of the lowered Loyalty Alliance IPO price range, Loyalty Alliance will receive net proceeds of down to $35.7 million.
MacquarieCapital and Needham & Co. are acting as the lead underwriters for the Loyalty Alliance IPO. The company was founded in October 2000, is providing Internet marketing services and expanding electronic coupon business through telemarketing.