GrubHub, which merged with Seamless last year, is well known to legions of hungry Wall Street workers. On Monday, the online food ordering service took a step closer to actually being on Wall Street.
The company said in an amended prospectus that it planned to sell more than 7 million shares in an initial public offering at $20 to $22 a share. At the midpoint, that would value GrubHub at more than $1.72 billion.
The company is selling four million shares in the offering and plans to use the proceeds for working capital and other purposes.
Existing shareholders are selling more than three million shares. GrubHub’s major investors include Spectrum Equity, Warburg Pincus, Thomas H. Lee Partners, Benchmarket Capital and a Goldman Sachs private equity fund.
GrubHub plans to list itself on the New York Stock Exchange under the ticker symbol “GRUB.† Underwriting on the offering is being led by Citigroup and Morgan Stanley.
