Demand Media Sets IPO Pricing

NEW YORK ( TheStreet) -- Demand Media estimates its initial public offering could raise nearly $140 million, according to a document filed with the Securities and Exchange Commission today.

Demand Media is offering 4.5 million shares priced between $14 and $16 a piece, which could raise up to $72 million. The selling stockholders are offering an additional 3 million shares, which could potentially raise $48 million.

Demand Media will not receive any of the proceeds from the sale of the shares being sold by the selling stockholders.

"We expect to receive net proceeds from this offering of approximately $58.1 million, based upon an assumed initial public offering price of $15 per share, which is the mid-point of the range set forth on the cover of this prospectus, and after deducting underwriting discounts and estimated offering expenses payable by us," the company said in its SEC filing.

The content and media company has been approved for listing on the New York Stock Exchange under the symbol "DMD."

-- Written by Theresa McCabe in Boston.

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