Epocrates to raise up to $75M in IPO
Epocrates Inc. said on Friday it plans to sell up to an estimated $75 million in an initial public offering.
This is second attempt at an IPO by the San Mateo mobile drug data company. It withdrew a previous effort in late 2008 amind the economic downturn that year.
Epocrates said it plans to trade on the Nasdaq Global Market with the EPOC symbol.
The company showed a loss in the three months ended March 31 of $855,000 as its revenue dropped 1.6 percent to $24.3 million. It showed a profit of $993,000 a year-earlier in the same quarter no faxing 1 hour payday loans.
Epocrates said it will use money raised through the IPO to pay dividends due to the holders of its Class B preferred stock and for general corporate purposes.
Epocrates said in its filing that about 40 percent of U.S. physicians use its mobile drug reference tools and interactive services, aout 1 million users.