Rubicon Project Prices IPO At $15/Shr, Low End Of Expected Range

(RTTNews) - The Rubicon Project, Inc., which provides a cloud-based platform for automated real-time buying and selling of digital advertising, announced the pricing of its initial public offering of 6.77 million shares of common stock at $15.00 per share, which is the low end of the expected range of $15.00 and $17.00 per share. The closing of the offering is expected to occur on April 7, 2014

Rubicon Project, which was founded in 2007, is offering 5,.42 million common shares and the selling stockholders named in the prospectus are offering 1.35 million shares of common stock, the company stated.

Rubicon Project said it will not receive any proceeds from the sale of shares by the selling stockholders.

In addition, Rubicon Project has granted underwriters a 30-day option to purchase up to an additional 1.02 million shares to cover over-allotments.

The Los Angeles, California-based company shares are expected to begin trading on April 2, 2014 on The New York Stock Exchange under the ticker symbol "RUBI."

Morgan Stanley & Co. LLC, Goldman, Sachs & Co. and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. Needham & Company, LLC, Oppenheimer & Co. Inc., and LUMA Securities LLC are acting as co-managers for the offering.