Gamefly Files $50 Million IPO
NEW YORK (
) --
Gamefly
, the
Netflix
(NFLX) - Get Report
of video game rentals, filed a $50 million initial public offering Wednesday.
The company, which allows users to rent video games by mail, currently has 334,000 subscribers, with sales of $46.4 million for the six-month period ended Sept. 30.
It also operates a portfolio of video-game Web sites.
Gamefly plans to come to market at a time where IPOs have been weak. This week, alone, all of the companies that have come to market have missed expectations for pricing.
Terreno Realty
(TRNO) - Get Report
,
Piedmont Office Realty Trust
(PDM) - Get Report
and
Solar Capital
(SLRC) - Get Report
priced shares below forecasts.
-- Reported by Jeanine Poggi in New York.
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