WOODLAND HILLS, Calif., May 19, 2010 (GLOBE NEWSWIRE) -- ReachLocal, Inc., a local online marketing company, today announced the pricing of the initial public offering of 4,166,667 shares of common stock at a price to the public of $13.00 per share. The shares will begin trading on the NASDAQ Global Select Market on May 20, 2010 under the ticker symbol "RLOC." Of the shares of common stock in the offering, ReachLocal is offering 3,316,103 shares and selling stockholders are offering 850,564 shares. In addition, ReachLocal has granted the underwriters a 30-day option to purchase up to an additional 625,000 shares of common stock, solely to cover over-allotments, if any.
J.P. Morgan Securities Inc. and BofA Merrill Lynch are acting as joint book-running managers for the offering. Citi is acting as lead manager, and Piper Jaffray & Co., Needham & Company, LLC and Gleacher & Company are acting as co-managers.
A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on May 19, 2010. Any offer or sale will be made solely by means of a written prospectus forming part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained from: J.P. Morgan Securities Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Telephone: (866) 803-9204; or BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Preliminary Prospectus Department, Email: Prospectus.Requests@ml.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About ReachLocal, Inc.
ReachLocal, Inc.'s mission is to help small- and medium-sized businesses acquire, maintain and retain customers via the Internet. ReachLocal offers a comprehensive suite of online marketing and reporting solutions, including search engine marketing, display advertising, remarketing and online marketing analytics, each targeted to the small- and medium-sized business market. ReachLocal delivers these solutions to small- and medium-sized businesses through a combination of its proprietary technology platform and its direct, "feet-on-the-street" sales force of Internet Marketing Consultants and select third party agencies and resellers. ReachLocal is headquartered in Woodland Hills, CA, with offices throughout North America and in Australia and the United Kingdom.
The ReachLocal, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7488