Groupon Expects $480M From IPO

Early this summer, Groupon was aiming to raise $750 million in its initial public offering; now, it expects to raise no less than $480 million but no more than $540 million from the sale of 30 million shares, the AP reports. In a tough market for stock offerings, the firm has faced questions over accounting practices. Shares will be priced between $16 and $18 each, the company says in a regulatory filing today, with proceeds going to working capital as well as possible acquisitions. (More Groupon stories.)