TrueCar, which publishes new car transaction data, announced terms for its IPO on Monday. The Santa Monica, CA-based company plans to raise $101 million by offering 7.8 million shares (1% insider) at a price range of $12 to $14. At the midpoint of the proposed range, it would command a fully diluted market value of $1.1 billion.
TrueCar, which was founded in 2005 and booked $134 million in sales for the fiscal year ended December 31/2013, plans to list on the NASDAQ under the symbol TRUE. It initially filed confidentially on February 14, 2014. Goldman Sachs, J.P. Morgan and RBC Capital Markets are the joint bookrunners on the deal.
