Netflix Announces Exercise and Closing of Over-Allotment Option
LOS GATOS, Calif., June 17 /PRNewswire-FirstCall/ --
Netflix, Inc., announced today that the underwriters of its
initial public offering have exercised in full their over-allotment option and
purchased an additional 825,000 shares of the company's common stock at a
price of $15.00 per share, less the applicable underwriting discount.
The purchase of the over-allotment shares brings the total number of shares of
the company's May 2002 initial public offering to 6,325,000 common shares, and
the total gross proceeds raised to $94,875,000. Netflix shares are traded on
the Nasdaq National Market under the symbol "NFLX."
The offering was led by Merrill Lynch & Co., with Thomas Weisel Partners
LLC and U.S. Bancorp Piper Jaffray acting as co-managers.
The offering of these securities is made only by means of a written
prospectus, copies of which may be obtained from Merrill Lynch & Co., Four
World Financial Center, 250 Vesey Street, New York, NY 10080.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any State in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such State.
About Netflix
Launched in 1998, Netflix is the world's largest online DVD rental
service, with more than 600,000 subscribers and a comprehensive library of
over 11,500 titles. For $19.95 a month, Netflix subscribers can view as many
DVDs as they want and keep the movies for as long as they like. There are no
due dates and no late fees. DVDs are delivered directly to the subscriber's
address by first-class mail. Based in Los Gatos, California, the company also
provides background information on DVD releases, including reviews, member
reviews and ratings, and personalized movie recommendations. For more
information on the company, visit www.netflix.com.