Further to our early January report, Lulu.com has filed the preliminary prospectus for their planned April IPO in Canada, with Genuity Capital Markets and CIBC as lead underwriters. According to the filing, 2009 sales were $31.6 million, up only 4 percent over the prior year. The company says they lost $1.9 million last year (and $13.8 million the year before), though they say that become slightly profitable by the fourth quarter. Seeking to raise approximately $50 million, $15 million of the proceeds would pay back a loan from company founder Bob Young–who would still retain majority control of the shares […]
