Rocket Fuel raised $116 million in its initial public offering (IPO), today announcing the availability of four million common stock shares to be traded at $29 per
share. The shares are expected to be available today and will be traded on the NASDAQ exchange under the ticker FUEL.
The announcement caps a busy week of ad tech company IPO news. While the availability of FUEL shares comes just one month and one day since the company filed for a $100 million IPO, retargeting advertising company Criteo filed to go public earlier this week.
According to Rocket Fuel's release, "The underwriters have a 30-day option to purchase up to 600,000 additional shares of common stock at the IPO price from certain
existing stockholders of Rocket Fuel to cover over-allotments, if any. None of Rocket Fuel's executive officers are participating in the offering as selling stockholders."
Credit Suisse and Citigroup were named as joint bookrunners for the offering. Co-managers include Needham & Company, Oppenheimer & Co., Piper Jaffray, BMO Capital Markets, and LUMA Securities.