Vistaprint 2008 Annual Report Download - page 45

PART II
Item 5. Market For Registrant’s Common Equity, Related Stockholder Matters and Issuer
Purchases of Equity Securities
Our common shares began trading under the symbol “VPRT” on the NASDAQ Global Market on
September 30, 2005. The following table sets forth, for the periods indicated, the high and low sale
price per share of our common shares on The NASDAQ Global Market:
High Low
Fiscal 2007:
First Quarter .................................................................. $27.09 $20.62
Second Quarter ............................................................... $36.94 $24.56
Third Quarter ................................................................. $43.30 $32.55
Fourth Quarter ................................................................ $41.51 $35.31
Fiscal 2008:
First Quarter .................................................................. $42.45 $29.60
Second Quarter ............................................................... $48.60 $36.86
Third Quarter ................................................................. $43.34 $27.34
Fourth Quarter ................................................................ $38.68 $24.78
Fiscal 2009:
First Quarter (through August 22, 2008) ......................................... $35.45 $24.46
As of August 22, 2008, there were approximately 45 holders of record of our common shares.
We have never paid or declared any cash dividends on our common shares and do not anticipate
paying any cash dividends in the foreseeable future. We currently intend to retain all future earnings for
use in the operation of our business or for repurchase of the Company’s shares. We did not sell any
equity securities that were not registered under the Securities Act of 1933 in the fourth quarter of fiscal
2008. We did not repurchase any equity securities in fiscal 2008.
On October 5, 2005 we completed the first closing our initial public offering, in which we sold
5,500,000 common shares and certain of our shareholders sold an aggregate of 4,515,930 common
shares, at an initial public offering price to the public of $12.00 per share. In the second closing of our
initial public offering, certain of our shareholders sold an aggregate of 1,502,390 common shares, at an
initial public offering price of $12.00 per share. The offer and sale of all of the common shares in the
initial public offering were registered under the Securities Act pursuant to a registration statement on
Form S-1 (File No. 333-125470), which was declared effective by the SEC on September 29, 2005.
The offering commenced as of September 30, 2005 and did not terminate before all of the securities
registered in the registration statement were sold. Goldman, Sachs & Co., Bear, Stearns & Co. Inc.,
SG Cowen & Co., LLC and Jefferies & Company, Inc. were the underwriters for the offering. We
received net proceeds of approximately $61.4 million (after underwriters’ discounts of $4.6 million). We
incurred additional, related expenses of approximately $1.6 million, resulting in proceeds, after
expenses, to us of approximately $59.8 million. None of the underwriting discounts and commissions
or offering costs were incurred or paid to directors or officers of ours or their associates or to persons
owning 10 percent or more of our common stock or to any affiliates of ours. As of August 28, 2008, we
had not utilized any of the net proceeds from the offering. We may use the net proceeds to fund
construction and expansion of our printing facilities and other operations, possible acquisitions and
investments, and working capital, capital expenditures, share repurchases and other general corporate
purposes. Pending these uses, we have invested the funds in asset-backed, short-term investment
grade and government securities. There has been no material change in the planned use of proceeds
from our initial public offering as described in our final prospectus filed with the SEC pursuant to
Rule 424(b).
Form 10-K
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