ChannelAdvisor plans to price initial public offering of common stock

Proceeds used for working capital and other general corporate purposes

By Devika Patel

Knoxville, Tenn., April 11 - ChannelAdvisor Corp. will price an initial public offering of its common stock, according to a Form S-1 filed Thursday with the Securities and Exchange Commission. The company expects its shares will trade on the NYSE under the symbol "ECOM."

The deal will have a greenshoe.

Goldman, Sachs & Co., Stifel, Pacific Crest Securities, BMO Capital Markets, Needham & Co. and Raymond James are assisting.

Proceeds will be used for working capital and other general corporate purposes, including expansion of international operations and sales and marketing capabilities.

The Morrisville, N.C., company enables its customers to connect with sources of demand for their products, including e-commerce marketplaces, such as eBay, Amazon and Newegg, search engines and comparison shopping websites, such as Google, Bing and Nextag, and emerging channels, such as Facebook and Groupon.

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