Thryv Holdings, a restructured marketing services provider offering online tools and print yellow pages, completed its direct listing on the Nasdaq today under the symbol THRY.
The stock opened at $14 with minimal volume, before trading to $10.64 by mid-day. In August 2020, the company completed a private placement at $10.17. At that level, it has a market cap of $314 million.
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Formerly Dex Media, the company traded on the Nasdaq under the symbol DXM until 2016, when it delisted and declared bankruptcy; the restructured company later changed its name to Thryv Holdings in July 2019.
The DFW Airport, TX-based company was founded in 2012 and booked $1.3 billion in revenue for the 12 months ended June 30, 2020. As a direct listing without a firm commitment offering, there were no underwriters on the deal; instead, I-Bankers Securities served as financial advisor.
The article Restructured SMB services provider Thryv Holdings completes direct listing on the Nasdaq, opens for trading at $14 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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