The Active Network, Inc., which operates an online network that connects event organizers with potential participants, announced terms for its IPO on Tuesday. The San Diego, CA-based company plans to raise $187 million by offering 11 million shares at a price range of $16 to $18. At the mid-point of the proposed range, The Active Network will command a market value of $1.1 billion. The Active Network, which was founded in 1998 and booked $289 million in sales for the 12 months ended March 31, 2011, plans to list on the under the symbol ACTV. BofA Merrill Lynch and Citi are the lead underwriters on the deal, which is expected to price during the week of May 23.
