Think New Ideas files for IPO

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Two months after receiving a $5 million cash infusion from Omnicom Group, interactive company Think New Ideas filed for an initial public offering last week.

Formed by merging seven small marketing and technology companies in June, Think hopes to tap into an IPO market that in the past year has rewarded CKS Group, Eagle River Interactive and Leap Partnership with about $40 million in capital each for their forays into Internet advertising and communications.

Think seeks to raise a maximum of about $15 million. The company said in its prospectus it wants to offer 3 million shares at $5 per share. The low share price would classify it as a penny stock, carrying less prestige in the market than stocks like CKS or Leap. Commonwealth Associates, a small New York underwriter, is handling the offering.

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