Local Matters Sets Terms of IPO

Denver, Colorado-based Local Matters said today that it plans to offer 3,333,334 shares of its stock on the Nasdaq at an offering price between $14.00 and $16.00 per share, in its upcoming initial public offering. Local Matters develops search software for yellow pages operators. The firm has applied to trade on the Nasdaq as LOCL. Local Matters reported that it had a loss of $4.5M and revenues of $7.2M in the three months ending March 31st. The company is backed by Spencer Trask, Sandler Capital, and others.