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: EU Parliament votes to break up Google

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

EU Parliament votes to break up Google

9 hours ago

The European Parliament voted overwhelmingly for the break-up of Google Thursday in a largely symbolic vote that nevertheless cast another blow in the four-year standoff between Brussels and the US Internet ...

Toyota finds new air bag issue, recalls more cars

13 hours ago

Toyota Motor Corp. recalled more than 40,000 vehicles in Japan on Thursday as part of a worldwide scare over defective air bags and is investigating a new type of air bag problem that could lead to further recalls.

Netflix sues Yahoo CIO for alleged kickbacks

Nov 26, 2014

Netflix is suing a former company vice president who is now chief information officer at Yahoo, accusing him of receiving money from vendors he hired to work with the video streaming company.

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.