AMERICAN-STATESMAN STAFFFriday, November 02, 2007
Two Austin companies filed for initial stock offerings today, seeking to raise a total of $415 million in the two biggest local IPOs in years.
Capstar Acquisition Corp., run by veteran entrepreneur and investor Steve Hicks, said it wants to raise $230 million. The Securities and Exchange Commission filing said Capstar is a "blank check" company that will seek to merge, acquire or otherwise combine with other companies. The company seeks to sell 23 million shares at $10 each.
Hicks owns Capstar Partners LLC. The company owns DMX Holdings Inc., which provides programmed digital music to retailers and other businesses, and Andrew Harper Inc., a travel services publishing firm.
Creditcards.com, an online credit card shopping site, said it seeks to raise $185 million, selling shares for $13 to $15 each.
Austin Ventures owns two-thirds of the company now and will own about 40 percent after the stock offering.