After setting a price range yesterday, mobile ad network Millennial Media has priced its IPO of 10.2 million shares of common stock at $13 per share. This is the high end of the range that Millennial reported yesterday, and values the company at $973.5 million.
Millennial’s shares will list on the New York Stock Exchange tomorrow morning under the symbol “MM.” Millennial says that a total of 9.2 million shares are being offered by the company, and a total of 1 million shares are being offered by selling stockholders. Morgan Stanley, Goldman Sachs, Barclays, Allen & Company and Stifel Nicolaus Weisel are all underwriters for the offering.
Millennial aims to raise $152.5 million in the offering, which is up from $75 million originally stated in earlier filings.
One of the largest remaining independent mobile ad networks, Millennial currently serves ads to 200 million unique users worldwide, including approximately 100 million unique users in the United States alone. More than 30,000 apps are enabled by developers to receive ads delivered by Millennial. Revenue has been steadily growing for the network, but the company is not yet profitable.
We’ll report back tomorrow on how Millennial performs in the first day of trading.
Source:http://techcrunch.com/2012/03/28/mobile-ad-network-millennial-media-prices-ipo-at-13-per-share/
Millennial’s shares will list on the New York Stock Exchange tomorrow morning under the symbol “MM.” Millennial says that a total of 9.2 million shares are being offered by the company, and a total of 1 million shares are being offered by selling stockholders. Morgan Stanley, Goldman Sachs, Barclays, Allen & Company and Stifel Nicolaus Weisel are all underwriters for the offering.
Millennial aims to raise $152.5 million in the offering, which is up from $75 million originally stated in earlier filings.
One of the largest remaining independent mobile ad networks, Millennial currently serves ads to 200 million unique users worldwide, including approximately 100 million unique users in the United States alone. More than 30,000 apps are enabled by developers to receive ads delivered by Millennial. Revenue has been steadily growing for the network, but the company is not yet profitable.
We’ll report back tomorrow on how Millennial performs in the first day of trading.
Source:http://techcrunch.com/2012/03/28/mobile-ad-network-millennial-media-prices-ipo-at-13-per-share/
No comments:
Post a Comment