Liftoff Mobile Prices IPO at $23 Per Share

MT Newswires Live

06/04

Liftoff Mobile (LFTO) priced its initial public offering of 19 million shares of common stock at $23 per share, the company said late Wednesday.

Underwriters were granted a 30-day option to purchase up to an additional 2.9 million shares to cover over-allotments.

Blackstone (BX)-backed Liftoff said it will use most of the IPO proceeds to repay debt, with the balance earmarked for general corporate purposes.

The shares are set to begin trading Thursday on the Nasdaq Global Select Market under the ticker "LFTO", with the offering expected to close Friday.

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