LegalZoom Discloses Finances In IPO Filing

LegalZoom.com, Inc. (NYSE: LGZ) has now publicly filed its registration statement with the Securities and Exchange Commission for its proposed initial public offering.  The company offers online services such as corporate filings for small businesses and individuals in the United States  of its common stock.

While the filing is for up to $120 million in common stock, no terms have been set regarding the number of shares to be offered and the price range for the offering.  LegalZoom noted that it had previously submitted its registration statement to the Securities and Exchange Commission on a confidential basis under the Jumpstart Our Business Startups Act.

Morgan Stanley and BofA Merrill Lynch are listed as the firm’s joint book-running managers for the offering; co-managers are listed as Stifel Nicolaus Weisel, RBC Capital Markets, William Blair, and Montgomery & Co.

Here is the company’s own description of its use of proceeds: “The principal purposes of this offering are to create a public market for our common stock and thereby enable access to the public equity markets by our employees and stockholders, obtain additional capital and increase our visibility in the marketplace. We currently intend to use the net proceeds to us from this offering primarily for general corporate purposes, including working capital and capital expenditures associated with scaling our operations, technology and infrastructure to support our growth. We may also use a portion of the net proceeds for the acquisition of, or investment in, technologies, solutions or businesses that complement our business, although we have no present commitments or agreements to enter into any acquisitions or investments.”

For 209, 2010, and 29011, revenues were $103.299 million, $120.771 million, and $156.066 million, respectively.  Net income attributable to shareholders for the same restive years was a loss of -$4.675 million in 2009, a loss of -$8.062 million in 2010, and positive earnings of $4.674 million in 2012.

JON C. OGG