Tremor Video shares edge down in trading debut

NEW YORK (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."


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Top Stories

  • Remodeling Safeco
    Groundskeeping crews at Safeco Field are taking a backseat to Beyonce and Jay Z

  • Waiting for Marshawn
    Why Danny O'Neil doesn't expect to see Marshawn Lynch before September

  • Time for Takeoff
    Get to know the Blue Angels as they arrive for Seafair today
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.