Spark filed their Form 10, which is a general form for registration of securities, on September 16. I’ve been getting back into focus mode after a much-needed vacation and have tons of email to wade through, and respond to. In the meantime a quick overview, thanks Markus! Hopefully David at the Internet Stock Blog will weigh in with commentary.
The Offering
9 million shares given to directors at $3.81 as compensation.
ADSs offered by selling shareholders 33,269,160 ADSs (1)
Total ordinary shares outstanding after the offering, including ordinary shares underlying ADSs and GDSs 26,144,160 Ordinary Shares (2)
Use of Proceeds We will not receive any of the net proceeds from the sale of our shares by the selling shareholders. See “Use of Proceeds.�
Proposed Nasdaq National Market symbol SPRK.
Looks like they can raise around 40 million from the exercise of options.
– 8,997,750 ordinary shares issuable upon the exercise of outstanding options as of August 31, 2005, with exercise prices ranging from $0.90 to $9.74 per share and a weighted average exercise price of $4.16 per share;
– 530,000 ordinary shares issuable upon the exercise of warrants outstanding as of August 31, 2005, with an exercise price an exercise price of $2.57 per share; and
– 14,157,000 ordinary shares available for issuance under our share option schemes.
Update: Internet Stock Blog has more on the Spark IPO registration.
[tags: spark networks]
