GrubHub Serving Up 10M Shares in Secondary Offering
August 27, 2014
GrubHub (NYSE: GRUB), an online food-delivery platform, has filed to offer 10 million+ shares in a secondary offering four months after going public. Most of shares offered are from existing shareholders, including PE backers Spectrum Equity, GS Capital Partners and Warburg Pincus, whose stakes could drop to 7.1%, 6.2% and 5.2%, respectively. The company had priced its IPO at $26 in April, and saw shares rise 41% its first day. On Tuesday, it closed at $38.48 after trading at over $45 last week. GrubHub merged with rival Seamless in 2013, further increasing its consortium of PE backers.