On April 15th of this year, Rosetta Stone went public with an IPO of some $115M. Today the Wall Street Journal reports that with a rise in price of almost 40%, the offering has become the second most successful such offering of the year:
The language-software company was the fourth deal in 2009 to rise on the first day of trading and the best-performing IPO in the U.S. in a year.
The Arlington, Va., company's stock closed at $25.12 a share on the New York Stock Exchange, up from the IPO price of $18. A total of 6.25 million shares were sold for a dollar more per share than the expected range of $15 to $17, which was set by underwriters Morgan Stanley
and William Blair & Co.
The IPO market had been nearly extinguished during the credit crisis. But Rosetta's deal brings April's U.S. IPO count to three, the busiest month since July 2008, when a trio of deals also came to market.
Rosetta is the best-performing U.S. IPO since fertilizer company Intrepid Potash Inc. rose 58% on its debut in April 2008. It is also the first IPO to price above its range in nearly a year; the last was industrial pump and valve company Colfax Corp., which went public in May 2008.