Aprimo files for IPO
Aprimo Inc. has filed a registration statement with the Securities and Exchange Commission for an initial public offering of its common stock.
The marketing software company would not disclose the exact number or price of the stock. The Associated Press reported that the offering could be worth $50 million for the Indianapolis-based company.
Aprimo provides CRM software and services. Clients include AT&T, Home Depot, Intel and Target.
Morgan Stanley is the lead underwriter for the IPO. Aprimo, which reported losses of $1.9 million for the first half of this year, will use the proceeds from the IPO as working capital. Its reported revenue for the period is $29.8 million - a $7 million increase from last year.
Aprimo will be listed on the Nasdaq Stock Market under the symbol "MKTG."
The registration has been filed but has yet to become effective.