Rosetta Stone (RST) IPO Surges Higher
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The IPO for Rosetta Stone Inc. (NYSE: RST) is open for trading. The stock is trading at $25.73 after pricing 6,250,000 shares at $18.00 per share, above the expected $15.00-$17.00 range.
Rosetta Stone is offering 3,125,000 shares of common stock and selling stockholders are offering the remaining 3,125,000 shares in the offering. The underwriters have a 30-day option to purchase up to an additional 937,500 shares from the selling stockholders to cover over-allotments, if any.
Morgan Stanley & Co. Incorporated and William Blair & Company, L.L.C. are acting as joint book-running managers for the offering. Jefferies & Company, Inc., Piper Jaffray & Co. and Robert W. Baird & Co. Incorporated are the co-managers of the offering.
Rosetta Stone Inc. is a leading provider of technology-based language learning solutions consisting of software, online services and audio practice tools, primarily under the Rosetta Stone brand.
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joseph p on Apr 17, 2009 05:58 AMtoo much for that stock