(Reuters) - E-commerce software provider ChannelAdvisor filed with U.S. regulators to raise up to $86.3 million in an initial public offering of its shares.
The company did not disclose the number of shares it planned to sell or their expected price.
ChannelAdvisor, founded in 2001, helps companies sell their merchandise across channels such as Amazon.com Inc, Google Inc, eBay and Facebook Inc.
The company, which competes with Mercent Corp., intends to use the proceeds to expand its international operations and sales and marketing capabilities.
Investment firms Kodiak Venture Partners, Advance Technology Ventures and New Enterprise Associates own about two-thirds of ChannelAdvisor.
Reuters reported in September last year that the company had hired Goldman Sachs and Stifel Nicolaus for an initial public offering planned for 2013.
Pacific Crest Securities, BMO Capital Markets, Needham & Co, and Raymond James are the other underwriters, the company said in a preliminary filing with the U.S. Securities & Exchange Commission. (http://link.reuters.com/zer37t)
The Morrisville, North Carolina-based company plans to list its shares on the New York Stock Exchange under the symbol "ECOM."
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
(Reporting by Ashutosh Pandey in Bangalore; Editing by Sreejiraj Eluvangal)
Source: http://news.yahoo.com/e-commerce-software-maker-channeladvisor-raise-86-million-212406796.html
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