OpenTable, which provides an online reservation management platform for restaurants, raised the proposed deal size for its upcoming IPO on Tuesday. The San Francisco, CA-based company now plans to raise $51 million by offering 3 million shares at a price range of $16.00 to $18.00. The company had previously filed to offer 3 million shares at a range of $12.00 to $14.00. At the mid-point of the revised range, the deal would be 31% greater than previously anticipated. OpenTable, which was founded in 1998 and booked $59 million in sales over the last 12 months, plans to list on the NASDAQ under the symbol OPEN. Merrill Lynch is set to be the lead underwriter on the deal, which is expected to price on Wednesday, May 20.
