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NET FLIX Free Resources
Netflix, whic...
Netflix, which went public last month, had one of the few successful Internet-related public offerings in some time. The Los Gatos, Calif.-based company raised $82.5 million in its first day, money that Netflix intends to use for debt repayment and general corporate purposes.
Online DVD rental company Netflix.com has registered to go public in an offering that would bring in $115 million, according to documents filed with the Securities and Exchange Commission.
The Los Gatos, Calif., company did not say how many shares would be offered or at what price they would be offered. The company hopes to trade under the ticker symbol "NFLX."
Netflix said it would use the money raised in the IPO to pay off $13.7 million in debt and for general purposes. The offering is being underwritten by Merrill Lynch, Thomas Weisel Partners and U.S. Bancorp Piper Jaffray.
Netflix charges a subscription fee of $19.95 per month. Customers go online to choose their movies, which are then shipped out via first-class mail. The company encloses mailers for customers to return the DVDs. There are no late fees, and customers can rent as many movies as they want during a month, but can only have three movies out at a given time.
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