SAN FRANCISCO – Investors gave Yelp Inc. mixed reviews this week after the company announced its most recent earnings and launched a $251 million follow-on offering. Yelp turned to Cooley as counsel on the transaction.
The San Francisco-based company is offering nearly 3.8 million shares of Class A common stock at $67 per share. The company’s stock price has soared since its IPO last year; on Oct. 18 it closed at an all-time high of $74.89. For its third quarter earnings, the company beat revenue estimates, coming in at $61.2 million. But it failed to turn a profit, posting a $2.3 million net loss. Investors retreated from the stock on the earnings and follow-on announcements, but it has since rebounded.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
