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Ad Tech Firm PubMatic Prices IPO at $20 a Share

Pile of money
(Image credit: Wikipedia)

In a strong market for ad tech companies, PubMatic priced its initial public offering at $20 a share and said trading will begin on the Nasdaq Global Market on Wednesday.

PubMatic is offering 2.655 million shares, raising $53 million. At the same time, certain stockholders are offering 3.256 million shares, valuing the company at $118 million.

Related: PubMatic Sees ROI Benefit with MediaMath's Source

PubMatic says its platform lets independent app developers and publishers control and maximize their digital advertising business and enables advertisers to engage their targets audiences in premium environments across ad formats.

Jefferies LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the proposed offering. JMP Securities LLC, KeyBank Capital Markets, Oppenheimer & Co. Inc., and Raymond James & Associates, Inc. are acting as co-managers for the proposed offering.

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.