Gogo falls in 1st day of trading on the Nasdaq

Jun 21, 2013

(AP)—Shares of Gogo, which provides Internet services on airlines, declined in its first day of trading on the Nasdaq.

The Itasca, Ill., company's stock fell $1.11, or 6.5 percent, to $15.89 in late morning trading Friday.

Gogo Inc. raised $187 million from the of 11 million shares.

The offering was priced at $17 per share, at the high end of the projected $15 to $17 range.

The underwriters may buy up to about 1.7 million additional shares to cover any excess demand.

Gogo said in a regulatory filing that it plans to use net proceeds for working capital and other general corporate purposes, such as costs related to international expansion.

Gogo is trading under the "GOGO" ticker symbol. The offering is expected to close on Wednesday.

Explore further: Jury says Silicon Valley firm did not discriminate (Update)

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Tableau Software soars in trading debut

May 17, 2013

(AP)—Tableau Software shares soared in their trading debut Friday after the company and some of its investors raised about $254.2 million in its initial public offering.

Recommended for you

Intel in talks with Altera on tie-up

20 hours ago

US tech giant Intel is in talks with rival Altera on a tie-up to broaden the chipmaker's product line amid growth in Internet-connected devices, the Wall Street Journal reported Friday.

Apple chief Cook to give his wealth away: Fortune

Mar 27, 2015

Apple chief Tim Cook is joining Mark Zuckerberg, Bill Gates and other technology titans who have vowed to donate their wealth to charities, according to a report in Fortune magazine.

BlackBerry tops 4Q profit forecasts

Mar 27, 2015

BlackBerry posted a surprise profit in the fourth quarter, but saw a sharp drop-off in revenue as the once-iconic smartphone company said it reached the halfway mark of its turnaround effort.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.