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Real Estate Search Engine Site Trulia Files for a IPO

“Get ready for some more M&A activity in the real estate sector. This morning, the real estate search engine Trulia announced that it is looking to raise up to $100.3 million $150 million in a follow-on offering, with “some or all of such net proceeds to acquire or invest in complementary businesses, products, services, technologies, or other assets.” Trulia went public last year, and currently has 23.6 million monthly active users. Update: today’s follow-on filing is an amendment that includes the partial release of some shares owned by “certain officers and directors of the company” that were previously locked up. A spokesperson says that it is for $150 million, with $100 million going to company reserves.

In a filing
 with the SEC, the company said it would be offering some 5.25 million shares in a primary and secondary offering. 1.75 million of those shares will come from selling stockholers, and 3.5 million will come from Trulia itself, with the $100.3 million calculation based on its $30.44 per share price as of March 8 on the NYSE. It also notes that the raise could be as high as $115.4 million “if the underwriters’ option to purchase additional shares in this offering is exercised in full.” …”

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