Mimecast Limited (MIME) IPO Opens Higher, Trends Lower

Today's IPO for (NASDAQ: MIME) opened for trading earlier at $11 after pricing 7,750,000 ordinary shares at a price to the public of $10 per share, the low end of the expected $10-$12 range. However it has been all downhills since with the stock last trading at $9.95, down 0.7%.

Goldman, Sachs & Co. is acting as lead book-running manager, and Barclays Capital Inc., Jefferies LLC and RBC Capital Markets, LLC are acting as book-running managers. Oppenheimer & Co. Inc. is acting as co-manager.

Mimecast makes business email and data safer for more than 15,000 customers and millions of employees worldwide. Founded in 2003, the company’s cloud-based security, archiving and continuity services protect email, and deliver comprehensive email risk management in a single, fully-integrated subscription service.

You May Also Be Interested In

• Marex Group (MRX) Prices 15.38M Share IPO at $19/sh
• Neo-Concept International Group Holdings (NCI) Prices 2.32M Share IPO at $4/sh
• AZZ, Inc. (AZZ) Announces Proposed 4M Share Offering