OpenTable raises target IPO range

OpenTable, the San Franciso-based online restaurant reservation provider, has raised its IPO target to $12 to $14 a share, according to a filing the company made Tuesday.

If it gets that valuation when it begins selling shares, OpenTable’s IPO could raise as much as $42 million. The company expects to sell 3 million shares on Wednesday.

OpenTable said it could net $21.9 million from the offering, according to a filing Tuesday with the Securities and Exchange Commission. The company said it intends to use the proceeds for technology improvements and general corporate purposes.

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