Online advertising marketplace The Rubicon Project sets terms for $108 million IPO
The Rubicon Project, which operates a leading digital ad
exchange with the largest reach in the US, announced terms for
its IPO on Thursday. The Los Angeles, CA-based company plans to
raise $108 million by offering 6.8 million shares (20% insider)
at a price range of $15 to $17. At the midpoint of the proposed
range, The Rubicon Project would command a fully diluted market
value of $671 million.
The Rubicon Project, which was founded in 2007 and booked $84 million in sales for the fiscal year ended December 31, 2013, plans to list on the NYSE under the symbol RUBI. The Rubicon Project initially filed confidentially on January 16, 2014. Morgan Stanley, Goldman Sachs and RBC Capital Markets are the joint bookrunners on the deal.