Apps & Software
LogMeIn Scores Top of Range (LOGM, INTC)
Published:
Last Updated:
Investors and traders alike will want to pay attention to the LogMeIn Inc. (NASDAQ: LOGM) IPO today. We were expecting a premium pricing and possibly even a higher number of shares, but the price was at the top of the $14 to $16 range (at $16.00) for almost 6.67 million shares. As a reminder, Intel Corporation (NASDAQ: INTC) is a backer of this company and owns a small stake. JPMorgan and Barclays were the lead underwriters. It is our opinion that this IPO would have or could have either commanded a higher price or a higher shares sale had the IPO not come on a summer holiday week. We gave a full synopsis on this one last night with financial details, pros and cons, and more. Its market cap based on the 21.4 million fully diluted shares outstanding as of the pricing is implied at $342.4 million.
Jon C. Ogg
July 1, 2009
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.