Shutterstock (SSTK) IPO Opens 32% Higher

October 11, 2012 9:45 AM EDT
The IPO for Shutterstock, Inc. (NYSE: SSTK) opened at $22.50 after pricing 4,500,000 shares a $17 per share, above the expected $13-$15 range.

The bookrunning managers of the offering are Morgan Stanley, Deutsche Bank Securities and Jefferies. RBC Capital Markets, Stifel Nicolaus Weisel and William Blair are acting as co-managers for the offering.

Shutterstock is a leading global provider of high-quality licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world.

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