[Techtaffy Newsdesk]
Yelp has announced the pricing of its initial public offering of 7,150,000 shares of Class A common stock at a price to the public of $15.00 per share. The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol “YELP” on Friday, March 2, 2012. A total of 7,100,000 shares are being offered by Yelp, and a total of 50,000 shares are being offered by a selling stockholder, The Yelp Foundation. In addition, the underwriters have an option to purchase up to an additional 1,072,500 shares from Yelp. Yelp will not receive any proceeds from the sale of shares by the selling stockholder.
Goldman, Sachs is the lead bookrunning manager and representative of the underwriters for the offering. Citigroup Global Markets and Jefferies & Company are joint bookrunning managers, and Allen & Company and Oppenheimer & Co. are co-managers for the offering.