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: Judge approves $450 mn deal in Apple ebook suit

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

Dish restores Turner channels to lineup

Nov 21, 2014

Turner Broadcasting channels such as Cartoon Network and CNN are back on the Dish network after being dropped from the satellite TV provider's lineup during contract talks.

'Call of Duty' blasts past $10 bn in sales

Nov 20, 2014

Blockbuster military shooter video game "Call of Duty" has blasted past $10 billion in lifetime sales, propelled by demand for the latest installment in the 11-year-old franchise.

Square's point-of-sale service goes global

Nov 20, 2014

Financial services startup Square is taking aim at cash registers across the globe, making its point-of-sale software available internationally in English, Spanish, French and Japanese.

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.