10/21/2011 12:45 pm ET | Updated Dec 21, 2011

Groupon Narrows Losses And Seeks $16 To $18 A Share

Groupon reported nearly breaking even in its third quarter, an important milestone as it prepares the final leg of its long journey toward an initial public offering.

On Friday, the daily deals giant published the expected price range of its initial offering in a revised prospectus. Groupon expects to sell 30 million shares and fetch $16 to $18 a share, valuing the company at as much as $11.4 billion.

At the midpoint of that price range, the company could raise $510 million. Its underwriters could also sell an additional 4.5 million shares if demand exceeds expectations.