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US financial services firms Morgan Stanley (NYSE:MS) and BofA Merrill Lynch who acted as underwriters were offered an over-allotment option for an additional 1.1 million stocks which would raise total proceeds to USD115m.
Ancestry will use the proceeds from the offering for general corporate purposes, debt repayment, acquisition-based growth and technology investments.
Ancestry's offering mirrors the success of other technology IPOs which have performed far better than other sectors since the start of 2009.
The transaction co-managers included US financial services firms Jefferies and Company, Piper Jaffray (NYSE:PJC), and BMO Capital Markets, part of Bank of Montreal (NYSE:BMO).
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