Digital News Report – Zipcar Inc. has announced that they have filed the S-1 Form with the US Securities and Exchange Commission (SEC) asking for an initial public offering (IPO) of common stock. The reason they are seeking investors in their company is to help pay down debts and for general corporate operational financing.
The IPO was filed, but has not yet proceed to the next step where the common stocks are for sale. The securities are not able to be bought or sold yet until the IPO is approved by the SEC and is announced as such.
Zipcar is a self-service rental car service that charges by the hour or the day in urban areas. They are also found on college campuses as well as in the cities in both the US, Canada, and the UK. The car sharing service helps people that don’t use a car on a regular basis use it when they need it and can help save on the cost of owning one, which can included expenses such as insurance, taxes, and repair and maintenance costs.
By: Victoria Brown
|
