IPO for VIZIO (VZIO) Opens 17% Lower
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Today's IPO for VIZIO Holding Corp. (NYSE: VZIO) opened for trading $17.50 after pricing 12,250,000 shares of its Class A common stock at $21.
VIZIO is offering 7,560,000 shares of its Class A common stock, and certain selling stockholders are offering 4,690,000 shares of VIZIO’s Class A common stock.
J.P. Morgan and BofA Securities are acting as lead book-running managers for the offering. Wells Fargo Securities and Guggenheim Securities are also acting as book-running managers for the offering. Needham & Company and Piper Sandler are acting as joint lead managers, and Roth Capital Partners is acting as co-manager for the offering.
Founded and headquartered in Orange County, California, VIZIO's mission is to deliver immersive entertainment and compelling lifestyle enhancements that make our products the center of the connected home. VIZIO is driving the future of televisions through its integrated platform of cutting-edge Smart TVs and powerful SmartCast operating system. VIZIO also offers a portfolio of innovative sound bars that deliver consumers an elevated audio experience. VIZIO's platform gives content providers more ways to distribute their content and advertisers more tools to target and dynamically serve ads to a growing audience that is increasingly transitioning away from linear TV.
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