Needham, MA – TechTarget, Inc., which produces executive-level technical conferences for the IT industry, announced an initial public offering (IPO) of 7.7 million shares of common stock at $13 per share. The company had filed paperwork for its IPO in early January (See The Vault, at www.tradeshowexecutive.com, Jan. 8).
The shares began trading on NASDAQ May 17 with 6,427,152 being sold by the company and the remainder by unidentified “selling stockholders.” The Massachusetts firm said it planned to use the proceeds to pay down debt, provide working capital and for a variety of other business expenses.
The IPO appeared to capture the attention of Wall Street as it closed the following day at $15.07 per share.
TechTarget offers a portfolio of invitation-only events designed to bring together IT buyers and decision-makers from large companies for technical education sessions and exhibits. Events include the Data Center Decisions Seminar series, CIO Decisions Conference, ServerSide Java Symposium and other events related to security, disaster recovery and data storage.
Reach CEO Greg Strakosch at (888) 274-4111 or email@example.com