Local.com, a U.S local search site and network which reaches 20 million users every month with local products, coupons, services, events and businesses search results today announced it’s heading for an IPO. The corporation had priced an underwritten public offering of 4,000,000 shares at $4.25 per share.

“Net proceeds, after estimated underwriting discounts and commissions and estimated expenses, will be approximately $15.5 million. Local.com has granted the underwriter a 30-day option to purchase up to an additional 600,000 shares of common stock to cover overallotments, if any.”

The IPO is expected to close at January 20, 2011 depending on the investors. Canaccord Genuit was the only book-running manager for the offering.

Location-based services are becoming a bigger and bigger trend and full-scale phenomenon lately, and Local.com is only one element of this massive, multi-billion dollar industry.  It’s because of this rapid growth that Local.com has concentrated on developing a resource that spans various aspects of the industry, centralizing consumer efforts as their options continue to broaden.

Also looped in this industry is location-based mobile search engine Poynt, who recently acquired one more patent to add to its existing portfolio: a GPS data-based offer feature and coupon delivery. There’s also LivingSocial’s very fresh strategic investment in European group buying site Let’s Bounce, as the Groupon competitor expands to nine additional U.S markets.

One way location-based services are gaining consumer interest and activity is through special promos, like raising awareness and funds for charities.  LivingSocial, for instance,  raised $130,000 for U.S. and international charities in its annual 12 Days of Giving promo.  On the flip side of the coin, social location-based game SCVNGR recently announced it has raised $15M in its third round of funding. The round was led by Barry Maloney from Balderton Capital with participation from Google Ventures and Highland Capital Partners.