Angie's List Announces Partial Release of Lock-Up Agreements With Certain
INDIANAPOLIS, May 10, 2012 (GLOBE NEWSWIRE) -- Angie's List, Inc.
(Nasdaq:ANGI) announced today that BofA Merrill Lynch, the lead bookrunning
manager of Angie's List's initial public offering in November 2011, is
releasing a lock-up restriction with respect to 472,666 shares of Angie's List
common stock held by certain Angie's List officers. The release will take
effect concurrently with Angie's List's recently announced follow-on offering.
As previously announced, on May 1, 2012, the Company filed a registration
statement with the U.S. Securities and Exchange Commission (the "SEC") for a
proposed public offering of shares of its common stock, which it amended on
May 9, 2012. The proceeds of the primary portion of the offering will be used
to fund the company's advertising strategy to drive membership growth and for
general corporate purposes, including working capital. Angie's List will not
receive any proceeds from shares of common stock to be sold by the selling
stockholders. The principal purposes of the offering are to facilitate an
orderly distribution of shares by the selling stockholders and increase the
company's public float.
BofA Merrill Lynch will be the lead bookrunning manager of the proposed
offering. Allen & Company LLC, RBC Capital Markets, LLC, Janney Montgomery
Scott LLC, Oppenheimer & Co. Inc., CODE Advisors LLC, Wells Fargo Securities,
LLC and ThinkEquity LLC are acting as co-managers.
The offering will be made only by means of a prospectus. A copy of the
prospectus, when available, may be obtained from the offices of BofA Merrill
Lynch, 4 World Financial Center, New York, NY 10080, attention: Prospectus
Department, or email email@example.com.
A registration statement relating to these securities has been filed with the
SEC but has not yet become effective. These securities may not be sold nor may
offers to buy be accepted prior to the time the registration statement becomes
effective. The registration statement on Form S-1 may be accessed through the
SEC's website at edgar.sec.gov.
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 or
About Angie's List
Angie's List collects consumer reviews on local service providers ranging from
home improvement to healthcare in more than 550 service categories. More than
one million paying households in the United States rely upon Angie's List to
help them make the best hiring decisions. Members get unlimited access to
local ratings via Internet or phone, exclusive discounts, the Angie's List
Magazine and help from the Angie's List complaint resolution service.
CONTACT: Investor Relations at Angie's List
The Blueshirt Group for Angie's List
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