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Groupon Revises IPO Pricing Estimates

By Chuck Sudo in News on Oct 21, 2011 3:00PM

11_19_10groupon.png Groupon adjusted their fuzzy math this morning with yet another amended IPO Prospectus where they're scaling back what they thought they could raise once the IPO is a go.

The daily deal giant once expected to raise $750 million in their original prospectus. Instead, Groupon is looking at raising between $480 and $540 million when the IPO is underway.

The amended prospectus reads Groupon will sell 30 million shares of Class A common stock and anticipates IPO pricing of between $16 and $18 per share, which would value the company between $9.6 and $10.8 billion. It's a long drop from the original valuation of $30 billion the company was expected to be valued at with the original IPO and closer to the rumored $6 billion Google offered the company last November. Since more rumors persist that Groupon is insolvent, one wonders how the analysts paid to monitor these things will react.

Groupon will also trade on the Nasdaq under the symbol GRPN. (Was PONZI unavailable?)