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Ad tech company Rocket Fuel sets terms for $102 million IPO

By: Renaissance Capital
Posted: 9/9/2013 8:27:00 AM
Referenced Stocks: FUEL

Rocket Fuel, which provides an automated platform to optimize real-time digital ad buying, announced terms for its IPO on Monday. The Redwood City, CA-based company plans to raise $102 million by offering 4.0 million shares at a price range of $24 to $27. At the midpoint of the proposed range, Rocket Fuel would command a fully diluted market value of $981 million.

Rocket Fuel, which was founded in 2008 and booked $160 million in sales for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol FUEL. Rocket Fuel initially filed confidentially on May 24, 2013. Credit Suisse and Citi are the joint bookrunners on the deal.