Ancestry.com Prices Offering at $42/Share

By Markets FOXBusiness

The world’s largest online family history resource, Ancestry.com (NASDAQ:ACOM) said on Wednesday it is selling 4.35 million of its shares for $42 each.

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The selling stockholders have granted underwriters a 30-day option to purchase up to an additional 652,500 shares of common stock to cover over-allotments.

The company, which has more than 1.6 million paying subscribers, has also agreed to purchase some $50 million worth of its common stock under its previously announced $125 million buyback program.

The stock will be repurchased directly from its CEO Tim Sullivan and affiliates of Spectrum Equity Investors in a private, non-underwritten transaction. Ancestry.com said it plans on using cash on hand to fund the repurchase.

Morgan Stanley (MS) and Bank of America (BAC) are acting as joint book-running managers of the underwriters for the offering.

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