Monday, September 9, 2013

Rocket Fuel Sets IPO Pricing Range

Redwood Shores-based Rocket Fuel, which develops online advertising technology, said in a filing that it is hoping to sell 4,000,000 shares of its common stock in an IPO at between $24.00 and $27.00 per share. The company said it is looking to list on the NASDAQ Global Market as FUEL. Rocket Fuel's IPO is being underwritten by Credit Suisse, Citigroup, Needham & Company, Oppenheimer & Co., Piper Jaffray, BMO Capital Markets, and LUMA Securities. The firm develops artificial intelligence software for better targeting online advertising. The company is venture backed by Mohr Davidow, Nokia Growth Partners, Northgate Capital, Labrador Ventures, Cross Creek Capital, as well as others.