Initial Public Offering
Baird served as a co-manager on this offering
AboutMotricity, Inc. (NASDAQ: MOTR) recently announced the pricing of its initial public offering of 6,000,000 shares of common stock at $10.00 per share, generating gross proceeds of $60.0 million for the Company. The Company intends to use the net proceeds from the offering to fund investments in, and acquisitions of, competitive and complementary businesses, products or technologies. Motricity offered 5,000,000 shares of common stock in this offering; entities affiliated with current shareholder Carl Icahn will purchase an additional 1,000,000 shares directly from the company in connection with this offering at the initial public offering price less the underwriting discount.
Motricity is a leading mobile data solutions provider exclusively focused on the rapidly growing mobile Internet market. It serves some of the world’s largest mobile carriers, simplifying the mobile Internet and creating a personalized mobile experience for subscribers. Motricity helps companies leverage the power of mobility to make direct, personalized connections with their customers.
The Baird team included our dedicated industry bankers and members of our Equity Capital Markets group.
For additional information about this transaction, please contact:
- June 2010
- Motricity, Inc.
- Technology & Services
- Target Location
- North America
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