Tuesday, November 2, 2010
Ancestry.com Eyes Secondary Offering
Provo, Utah-based Ancestry.com, which operates an online family history and genealogy site, said today in a filing with the SEC that it has proposed a secondary public offering of its common stock. The firm said its shareholders are looking to sell up to $100M in stock, and that it intends to repurchase approximately $25M of that common stock from those stockholders, including Spectrum Equity Investors V, L.P.. Ancestry.com said it is not selling any common stock in the offering, and will not receive any proceeds from the sale. Spectrum Equity Investors V, L.P., owns about 52 percent of Ancestry.com. It's been just about one year since Ancestry.com debuted on the Nasdaq Global Select Market, and the firm's stock price has roughly doubled in price since its debut, now around $26.81 per share based on yesterday's close price.