NEW YORK, N.Y. – Shares of Marin Software climbed nearly 27 per cent in their first day as a publicly traded company.
The software company’s stock rose $3.76, or 26.9 per cent, to $17.76 in morning trading.
Marin Software Inc. raised $105 million in the initial public offering. The San Francisco company priced the IPO at $14 per share, above the expected price range of $11 to $13 a piece.
The size of the IPO increased to 7.5 million shares from 7 million shares.
The underwriters are getting a 30-day option to buy up to an additional 1.1 million shares at the IPO price.
Marin Software is trading on the New York Stock Exchange under the “MRIN” ticker symbol.