Epocrates files to raise up to $75M in IPO
The drug-data provider Epocrates Inc. has filed with the SEC to sell up to an estimated $75 million in an initial public offering.
The company plans to trade on the Nasdaq Global Market with the symbol EPOC.
Epocrates, a leading provider of mobile drug reference tools and interactive services, said it will use the proceeds to pay dividends due to the holders of its Class B preferred stock and for general corporate purposes, including working capital, research and development, sales and marketing, and capital expenditures.
J.P. Morgan Securities Inc. and Piper Jaffray & Co. will serve as joint book-running managers no fax pay day loan. William Blair & Co. LLC. and JMP Securities LLC will act as co-managers.
The company has yet to determine the number of shares to be sold and their price range.
Epocrates has more than 1 million users, including more than 40 percent of U.S. physicians, the company said. Its products are used on popular hand-held devices including the iPhone, iTouch and Blackberry, and Palm, Android and Windows devices.