Itasca-based inflight Wi-Fi provider Gogo has raised $187 million in
its initial public offering, with the stock expected to begin trading later this
morning on the NASDAQ.
The company, which makes technology that allows flyers to connect to the Web via their smartphones, tablets and laptops, priced its 11 million shares at $17 apiece. The pricing came in at the upper end of the company's $15-to-$17 range. The IPO's underwriters can buy up to 1.65 million additional shares.
Gogo posted a net loss of $32.45 million on $70.75 million in revenue in the first three months of 2013, compared with a loss of $17.6 million on $54.3 million in revenue during the year-earlier period.
Gogo's stock will trade under the ticker symbol GOGO.
The company's IPO follows that of Deerfield-based Textura, a maker of software for the construction industry, which debuted earlier this month. It raised about $75 million and its stock is up nearly 10 percent since the company went public.
firstname.lastname@example.org -- Twitter @VelocityWong
(c)2013 the Chicago Tribune
Visit the Chicago Tribune at www.chicagotribune.com
Distributed by MCT Information Services
Most Popular Stories
- Hispanics Seek to Grow School Board Members
- Slow Week Ahead of December FOMC Meeting
- 'Knockout Game': Myth or Menace?
- U.S. Companies Eager for Iranian Business
- Questions Remain in Jenni Rivera's Death
- GM Bailout Saved 1.2 Million U.S. Jobs, Report Says
- Banks Fret as Volcker Vote Approaches
- Bitcoin Used to Buy Tesla Car
- Paul Walker Fans Pay Respects
- Yellen Set to Become One of World's Most Powerful Women