Friday, June 18, 2010

Motricity Raises $50M In IPO

Bellevue-based Motricity completed its IPO last night, raising $50M in an IPO on the NASDAQ Global Market. The firm will trade as MOTR starting today. The firm's IPO priced at $10, the lower end of its expected offering range. The firm said it is selling 6M shares of the firm in the IPO, which was underwritten by J.P. Morgan Securities Inc., Goldman, Sachs & Co., Deutsche Bank Securities Inc., RBC Capital Markets Corporation, Robert W. Baird & Co. Incorporated, Needham & Company, LLC and Pacific Crest Securities LLC. The firm was venture backed by Advanced Equities, Carl C. Icahn, New Enterprise Associates, and Technology Crossover Ventures.