Convio, an Austin, Texas-based provider of on-demand solutions that enable nonprofit organizations to manage online fundraising and other activities, has announced that it has filed a registration statement on Form S-1 with the SEC relating to a proposed initial public offering of its common stock.
The shares in the offering will be offered by Convio and certain stockholders. While the number of shares to be offered and the price range have not been determined, the Wall Street Journal reports (behind paywall) that the sale is estimated to entail $57.5 million in stock.
We should note that the figure was submitted for the purpose of calculating the IPO registration fee, and could change substantially as the deal comes closer to market.
Convio’s clients include the American Red Cross, American Cancer Society, World Wildlife Fund, People for the Ethical Treatment of Animals and Planned Parenthood Federation of America. According to the SEC filing documents, Convio’s loss narrowed to $2.1 million in 2009 from $3.7 million the year before. Revenue increased to $63.1 million from $57.0 million year over year.
Convio plans to trade on the Nasdaq under ticker symbol CNVO, with Piper Jaffray and Thomas Weisel Partners serving as co-lead underwriters. The company has raised over $47 million in VC funding, and lists shareholders like Granite Ventures, Austin Ventures, El Dorado Ventures, Adams Street Partners and other investors.