Prime Response Files to Raise $52.3 Million in IPO
The company, which makes campaign management software that seeks to help large corporations create and execute targeted marketing campaigns, said it lost about $15.5 million on $13 million in revenues through the first nine months of 1999. It filed to trade on the Nasdaq exchange under the symbol PRME.
The company said it would use about $10.4 million of the proceeds from the IPO to pay some holders of its series B preferred stock and $4.3 million to pay a promissory note. Proceeds also will be used for working capital, product development, acquisitions and general corporate purposes.