Tremor Video Inc (TRMR) Stock Price Slightly Drops
Tremor Video Inc (NYSE:TRMR) is an advertising network company that is considered the second largest advertising technology company after Marin Software. The stock price was set to $10, which is slightly below the $11-$13 range that was predicted by analysts. Today the company’s stock price dropped as low as $7.91. Now the stock price is at $9.
Tremor raised $75 million from the IPO based on 7.5 million shares priced at $10 per share. Tremor Video granted the offering’s underwriters Credit Suisse Securities and Jefferies LLC a 30-day option to buy an additional 1.1 million shares. This could raise another $11.3 million.
Founded in 2005, Tremor Video runs advertisements on 500 websites and mobile applications. The company’s VideoHub technology is used by advertisers and agencies. In their financial statements, Tremor Video reported a loss of $16.4 million in 2012 on revenues of $105.2 million.