Advertising technology company The Rubicon Projecthas started trading on the New York Stock Exchange under the “RUBI” ticker.
The news follows a number of rival ad tech firms such as Tremor Mediam, YuMe , Criteo and Rocket Fuel, going public over the past year, as the trend for real-time bidding on digital advertising increases at a rapid rate.
The pricing of its initial public offering of 6,770,995 shares of common stock at a price to the public of $15.00 per share. Rubicon Project is offering 5,416,796 shares of common stock and the selling stockholders named in the prospectus are offering 1,354,199 shares of common stock.
Rubicon Project will not receive any proceeds from the sale of shares by the selling stockholders.
In addition, Rubicon Project has granted the underwriters a 30-day option to purchase up to an additional 1,015,649 shares of common stock to cover over-allotments, if any.
The shares are expected to begin trading on April 2, 2014 on The New York Stock Exchange under the ticker symbol “RUBI.”
The closing of the offering is expected to occur on April 7, 2014, subject to the satisfaction of customary closing conditions.
Morgan Stanley & Co. LLC, Goldman, Sachs & Co. and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. Needham & Company, LLC, Oppenheimer & Co. Inc., and LUMA Securities LLC are acting as co-managers for the offering.