Wednesday, April 2, 2014

Rubicon Project Prices IPO

Los Angeles-based online advertising technology provider Rubicon Project priced its IPO last night, saying that it is selling 6,770,995 shares of its common stock at $15.00 per share. Rubicon Project will begin trading this morning, on the New York Stock Exchange as RUBI. Rubicon Project priced at the lower end of its initial estimated IPO range, which was $15.00 to $17.00 per share. Rubicon Project is venture backed by Clearstone Ventures, News Corp., Mayfield, and others. The IPO was underwritten by Morgan Stanley, Goldman, Sachs, & Co., RBC Capital Markets, Needham & Company, Oppenheimer & Co, and Luma Securities. The IPO is the first, technology IPO out of Los Angeles since 2011.

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