CafePress Initial Public Offering Scheduled for Thursday, March 29
CafePress, the San Mateo, California-based online retailer that operates in the promotional products industry through CafePress Pro, is scheduled to issue its first public sale of stock in the company on Thursday, March 29. The online customized product portal will issue 2.5 million shares of stock, with stockholders expected to sell another 2 million shares.
CafePress has stated that it hopes the 4.5 million shares will raise $77 million with a market capitalization of $289 million. Stocks will be issued at $17 per share.
The company filed its IPO registration statement with the Security and Exchange Commission in June 2011. In anticipation of the sales, CafePress today filed a motion with the SEC to change its ticker symbol from CPRS to PRSS. The company still plans on trading on the NASDAQ.
For more information, visit CafePress' corporate website.