printCafe, Now Printcafe Software Seeks to Raise $75 Million Via IPO
Press release from the issuing company
February 13, 2002 - (WhatTheyThink.com) Printcafe Software has filed a registration statement with the Securities and Exchange Commission for a proposed offering of shares of its Common Stock for as much as $75 million. The company, formerly operating as printCafe, Inc. intends to use the proceeds for repayment of debt, working capital and general corporate purposes. The filing comes just a month after the company announced a major infusion of capital from current investors of nearly $40 million.
Last June, Printcafe Software withdrew IPO plans having originally been filed in March of 2000. In their original S1 statement, the company planned to raise $143 million. At the time, CEO Marc Olin told WhatTheyThink.com that removing the S1 would allow them to more actively promote the business. Mary Murrin Smith, the company’s Industry Relations Director said an IPO was still on the radar screen, but felt the procedure would be better delayed due to market conditions. Said Smith in June, “We have not abandoned the idea of an IPO, but right now, we have other priorities."
Printcafe Software is a provider and developer of infrastructure software and Internet-based products for the printing industry. Their approach integrates the most widely used print management systems with a powerful e-commerce engine enabling users to specify virtually any type of print project, obtain estimates, manage B2B transactions, monitor ERP information, set up all stages of the production process, track the status of a project in real time, manage invoicing, and report on a broad range of performance summaries and analyses.
The company’s solutions are installed in or hosted for over 8,000 printing facilities and print buyers worldwide, including 20 of the 25 largest printing companies in the United States, and over 50 of the Fortune 1000 companies including AOL Time Warner, Hewlett-Packard, General Motors, and Bristol-Myers Squibb.
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