By Sabela Ojea
Simple reduced the number of shares it is issuing in its IPO and disclosed the price of the offering.
The Singapore-based real estate technology company is issuing 1.60 million shares priced at $5.25 each, according to a filing with the U.S. Securities and Exchange Commission on Tuesday.
Simple plans to use the proceeds from the offering for, among other things, research and development of products and technologies and intellectual property strategy and implementation.
Two months ago, the company announced it would offer 1.63 million shares of common stock at an estimated price of $5 to $6 each.
On June 6, Simpple filed for an initial public offering to list the same number of shares on the Nasdaq Capital Market under the symbol SPPL at a price of $4 to $5 per share.
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12/23/09 1935ET
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