LogMeIn IPO Expected Tomorrow
Wade Roush6/30/09
[Update, 7/1/09: The IPO went forward last night as planned---see our full coverage.] The underwriters of LogMeIn’s planned initial public offering are expected to price the stock this evening and begin trading it on the NASDAQ exchange tomorrow, the Wall Street Journal and several other outlets are reporting today. As we wrote on June 16, the Woburn, MA-based maker of remote control software for PCs and servers hopes to raise up to $80 million in a sale of 5 million shares—and to join a very small handful of venture-backed companies to brave the public markets in the midst of a severe IPO drought. Company officers plan to sell an additional 1,666,6667 shares.
Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can e-mail him at wroush@xconomy.com or follow him on Twitter at twitter.com/wroush.
