SAN FRANCISCO, June, 2011- ThinkEquity LLC - A Panmure Gordon Company, a leading investment banking boutique focused on growth companies and their investors, is pleased to announce the completion of the initial public offering of stock for The Active Network, Inc. on May 24, 2011.
The Company issued 12,650,000 shares of common stock, including the over-allotment, at a price of $15.00 per share raising gross proceeds of approximately $189.8 million. ThinkEquity LLC acted as Co-Manager in this transaction. The Active Network Inc.'s common stock now trades on the New York Stock Exchange under the symbol "ACTV".
The Active Network, Inc. (www.activenetwork.com) is a leading provider of organization-based cloud computing applications serving diverse market segments including business events, community activities, outdoors and sports.
The securities described above were offered by The Active Network, Inc. pursuant to a prospectus filed with and declared effective by the Securities and Exchange Commission. The final prospectus is available at the SEC's website at www.sec.gov, or by contacting ThinkEquity LLC at 600 Montgomery Street, 3rd Floor, San Francisco, CA 94111, Attn: Prospectus Department (415) 249-2935.
The Panmure Gordon Group
Founded in 1876, Panmure Gordon & Co. (PMR.L) is a leading independent institutional stockbroker and investment bank. Encompassing its US franchise, ThinkEquity, LLC, the Group employs approximately 230 professionals across the US, the UK, Singapore and Nyon, Switzerland, offering a blend of transatlantic financial services including research, sales and trading, wealth management and asset management. www.panmure.com