Tremor Video shares edge down in trading debut

Jun 27, 2013

(AP)—Shares of Tremor Video Inc. edged down slightly in their first hours of trading Thursday, after the company raised $75 million in its initial public offering.

Tremor shares fell 22 cents to $9.78 in morning trading, after rising as high as $11.09 and falling as low as $9.50 earlier in the session.

The broader markets were up slightly.

Tremor sold 7.5 million shares for $10 each in its IPO, below an expected range of $11 to $13.

It also granted the offering's underwriters—Credit Suisse Securities (USA) LLC and Jefferies LLC—a 30-day option to buy up to an additional 1.1 million shares, which could raise as much as an additional $11.3 million.

New York-based Tremor provides an in-stream video ad network for internet-connected devices like computers, smartphones and tablets. It plans to use proceeds from the offering for general corporate purposes, including possible acquisitions.

The shares are listed on New York Stock Exchange under the symbol "TRMR."

Explore further: Alibaba surges in Wall Street debut

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

Alibaba surges in Wall Street debut

11 hours ago

A buying frenzy sent Alibaba shares sharply higher Friday as the Chinese online giant made its historic Wall Street trading debut.

Alibaba makes Wall Street debut

16 hours ago

Alibaba made its long-awaited Wall Street debut Friday on the heels of a record stock offering that opens the door to global expansion for the Chinese online retail giant.

Alibaba IPO to boost employee fortunes to $8 bn

19 hours ago

Employees of Chinese e-commerce giant Alibaba will see their fortunes swell to nearly $8 billion as the company prepares a massive US stock offering that could be valued at $25 billion.

Alibaba mega IPO caps founder Jack Ma success tale

22 hours ago

When Jack Ma founded Alibaba 15 years ago he insisted the e-commerce venture should see itself as competing against Silicon Valley, not other Chinese companies. That bold ambition from a time when China was ...

User comments : 0