Crown Media IPO Goes Off at $14 Per
Englewood, Colo. - Crown Media Holdings Inc., the parent of Odyssey, priced its initial public offering last Wednesday, three weeks after postponing it due to unfavorable market conditions.
Crown priced its IPO at $14 per share, raising about $140 million. The offering price was below its previously expected range of $19 to $21 per share.
The company also reduced the number of shares issued, opting to sell 10 million shares of class-A stock instead of the previously announced 12.5 million.
Crown opened at $14.03 per share and rose to $14.25 in morning trading May 4.
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