LoopNet, Inc. announced that it has filed a registration statement with the Securities and Exchange Commission relating to a proposed initial public offering of its common stock. The shares in the offering will be offered by LoopNet and certain selling stockholders. The number of shares to be offered and the price range for the offering has not been determined.
Credit Suisse Securities (USA) LLC will serve as the sole book-running manager for the offering, with Thomas Weisel Partners LLC, Pacific Crest Securities Inc., and Pacific Growth Equities, LLC acting as co-managers.
LoopNet is the leading online marketplace for commercial real estate in the United States, based on the number of commercial property listings and registered members. Our online marketplace, available at www.LoopNet.com, enables commercial real estate agents, working on behalf of property owners and landlords, to list properties for sale or for lease by submitting detailed property listing information in order to find a buyer or tenant. Commercial real estate brokers, agents, buyers and tenants use the LoopNet online marketplace to search for available property listings that meet their commercial real estate criteria. By connecting the sources of commercial real estate supply and demand in an efficient manner, we believe that LoopNet enables commercial real estate participants to initiate and complete more transactions more cost-effectively than through other means. LoopNet also delivers technology and information services to commercial real estate organizations to manage their online listing presence and optimize property marketing.