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LogMeIn sets IPO share price of $16
Reuters
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July 1, 2009
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NEW YORK - Software maker LogMeIn Inc. priced shares in its initial public offering yesterday for $16, at the top of its estimate range, a person with direct knowledge of the deal said.
The Woburn, Mass., company, whose backers include chipmaker Intel Corp., sold 6.7 million shares, raising $106.7 million, the person said, in the 11th IPO of 2009 in the United States.
In a regulatory filing, LogMeIn said it expected its intitial offering would price between $14 and $16 per share.
The offering was led by JPMorgan Chase & Co. and Barclays Capital PLC, which have the option to buy up to another 1 million shares to cover over-allotments.
LogMeIn’s shares are set to begin trading today on the Nasdaq Global Market under the symbol “LOGM.’’
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