Kayak Software seeks to raise $87 million in IPO
Online travel company, which originally filed to go public in 2010, had put its IPO plans on hold in May after Facebook's stock plunge.
Kayak Software is finally ready to test the IPO waters.
The online travel company announced today in a regulatory filing that it aims to raise as much as $87.5 million by selling 3.5 million shares for between $22 and $25 each. Shares will trade on the Nasdaq Stock Market under the ticker KYAK.
Kayak, which first filed to go public in 2010, effectively put its IPO in dry dock in May after company executives decided against holding its "roadshow" with would-be investors around Memorial Day as planned. Executives were reportedly worried about the willingness in the investment community to drop cash into another Internet IPO following Facebook's share price plunge in the first couple of weeks after its offering.
The company is aiming to price its IPO on July 19.
Last year, Kayak generated $224.5 million in revenue, up from the $170.7 million in 2010. The company was able to muster a profit of $9.7 million in 2011.
Morgan Stanley and Deutsche Bank Securities are leading the stock offering.