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Jupiter hopes to raise $50M in IPO

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New York--Jupiter Communications, an Internet research company, hopes to raise about $50 million from its planned initial public offering, according to documents filed Thursday with the Securities & Exchange Commission. Jupiter will offer 3,125,000 shares to the public at between $15 and $17 each. If the shares are valued at $16 apiece, the company will have a market capitalization of $226.6 million. The SEC filing indicated Jupiter plans to use the money earned from the IPO for product development, international expansion and potential acquisitions. The company had a net loss of $2.1 million in 1998, according to the SEC filing.
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