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Auctionbytes-NewsFlash, Number 223 - December 17, 2001 - ISSN 1539-5065      Previous Story | | Next Story

PayPal Files IPO Amendment with SEC
By Ina Steiner
AuctionBytes.com
December 17, 2001
Reading AuctionBytes: PayPal Files IPO Amendment with SEC

PayPal filed a second amendment to its Form S1 Registration Statement with the U.S. Securities and Exchange Commission (SEC) on Friday. Form S1 is required to register for an Initial Public Offering (IPO) of stock. The latest amendment spells out the number of stock to be issued and expected IPO price. The filing states that PayPal will sell 5.4 million shares of common stock at an expected price of between $12 and $14 per share. PayPal has applied to have its common stock listed on the NASDAQ stock exchange under the symbol PYPL. PayPal's net loss for the nine months ended September 30, 2001, was $89.3 million. PayPal is an online-payment service that launched in October 1999. For more information: http://dailynews.yahoo.com/h/nm/20011217/wr/tech_paypal_ipo_dc_1.html

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