SAN DIEGO, CA – February 15, 2011 – The Active Network, Inc. the leading provider of organization-based cloud computing applications, today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to a proposed initial public offering of shares of its common stock. The number of shares to be offered and the price range for the offering have not yet been determined. A portion of the shares will be issued and sold by The Active Network, and a portion will be sold by certain stockholders of The Active Network.
BofA Merrill Lynch and Citi are the bookrunning managers of the proposed offering, while Allen & Company LLC, Stifel Nicolaus Weisel, RBC Capital Markets Corp., ThinkEquity LLC, and WR Hambrecht+Co, LLC will act as the co-managers.
The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the offering may be obtained from: BofA Merrill Lynch, Attention: Prospectus Department, 4 World Financial Center, New York, NY 10080, email: email@example.com; and Citi, Attention: Prospectus Department, Brooklyn Army Terminal, 140 East 58th Street, 8th Floor, Brooklyn, NY 11220, 800-831-9146, email: BATProspectusdept@citi.com.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About The Active Network, Inc.
The Active Network, Inc. is a technology and media company that helps millions of people locate and register for activities and helps organizations increase participation in their events. The Active Network's technology solutions help community organizations improve customer service capabilities, increase revenues, and reduce the cost and complexity of managing programs, activities and events. For more information about The Active Network, Inc., please visit www.ActiveNetwork.com.
Mona Klausing, Active Network
Brinlea Johnson, The Blueshirt Group