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Telecom & Wireless

Millennial Media Lifts Price Range of IPO (GOOG, AAPL)

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By Paul Ausick Published

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Mobile advertising network Millennial Media Inc. filed its Form S-1 with the SEC in early January with a suggested price range of $11-$13/share. The company filed an amended S-1 today, lifting the proposed price to $13/share. At the price, Millennial would be valued at nearly $974 million.

Millennial is the third largest mobile ad network in the US, trailing AdMob from Google Inc. (NASDAQ: GOOG) and iAds from Apple Inc. (NASDAQ: AAPL).

The company plans to sell 9.2 million shares. Current owners plan to sell an additional 1 million shares and the underwriters have an over-allotment option on an additional 1.53 million shares. The company expects to net about $115 million if the underwriters exercise their options.

Millennial’s shares will trade on the NYSE under the symbol ‘MM’.

The full filing is available here.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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