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: 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

18 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

23 hours ago

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.