Reuters: Regulatory News: LegalZoom.com sees IPO priced at $10-$12 per share

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LegalZoom.com sees IPO priced at $10-$12 per share Jul 23rd 2012, 10:36 Mon Jul 23, 2012 6:36am EDT July 23 (Reuters) - LegalZoom.com Inc, which provides online legal services to small businesses and consumers in the United States, expects to price its initial public offering of 8 million shares at between $10 and $12 each. The company is offering 3.8 million shares while the rest are being sold by its majority-backer Polaris Venture Partners and certain executives, LegalZoom.com said in an amended regulatory filing. Glendale, California-based LegalZoom.com had in May filed with the U.S. Securities and Exchange Commission to raise up to $120 million in an IPO of common shares. At the top end of this expected range, the company will be valued at about $483 million, based on the number of outstanding shares listed in the filing. The company, which has about 300,000 subscribers, said it expect a profit of $1 million to $1.6 million, for the quarter-ended June 30, on revenue of $48 million to $50 million. Morgan Stanley and BofA Merrill Lynch are acting as lead underwriters to the offering.

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