GrubHub Raises Anticipated Size Of IPO To $177.9M
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CHICAGO (AP) – Online delivery company GrubHub plans to raise as much as $178 million from its initial public offering. That increases the offering’s expected size from $100 million a month ago.
The Chicago company says in a regulatory filing today that it also anticipates selling about 7 million shares in the IPO. The shares will be priced between $20 and $22 each.
Underwriters have the option to buy up to an additional 1.1 million shares.
The company was founded in 2004, making its name catering to college students and through its quirky social media activities. In August it completed a combination with rival Seamless for an undisclosed amount. Its other brands include MenuPages and Allmenus.
GrubHub’s stock is expected to list on the New York Stock Exchange under the “GRUB” ticker symbol.
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