Thursday, May 10, 2012

Audience Rises In IPO

Mountain View-based Audience, the venture backed developer of technology to improve the voice quality of mobile phones, debuted this morning on the NASDAQ as ADNC, opening at $19.00, above its pricing last night at $17.00 per share, and well above its initial estimated IPO range of $14.00 to $16.00 per share. The firm's venture backers include New Enterprise Associates, Vulcan Capital, and Tallwood Venture Capital. The firm's IPO was underwritten by J.P. Morgan, Credit Suisse, Deutsche Bank Securities, and Pacific Crest Securities.