December 11, 2003 | Read Time: 1 minute
Kintera, a San Diego company that leases software to nonprofit organizations to help them raise money online, plans to sell 4.5 million shares of common stock in its initial public offering, according to documents filed with the Securities and Exchange Commission on November 28.
The company anticipates that the initial-public-offering price will be between $8 and $10 per share. Kintera has applied for a listing of its stock on the Nasdaq under the symbol “KNTA.”
Since Kintera started doing business in 2001, it has signed contracts with more than 500 nonprofit organizations. In the documents filed with the SEC, the company said that its revenue in the first nine months of 2003 totaled $5.2-million, up from $1.3-million for the same period in 2002. But it also reported that as of September 30, 2003, it had an accumulated deficit of $31-million.
Over the course of 2003, Kintera has acquired a number of Internet companies that work with nonprofit organizations: Donation Depot, an online-giving company in Tacoma, Wash.; Involve, a Web-development company in New York; Little Tornadoes, a Web-development company with offices in New York and Pittsburgh; and VirtualSprockets, a technology company in Poolesville, Md.
