Thursday, June 17, 2010

Motricity Lowers Offering Range In IPO

Bellevue-based Motricity has cut the range of its IPO offering, saying in a filing with the SEC today that it now expects to price at between $10.00 and $11.00 per share. The firm had previously said it would IPO at between $14.00 and $16.00 a share. Motricity is selling 5,870,000 in the offering, which is being underwritten by J.P. Morgan, Goldman, Sachs & Co., Deutsche Bank Securities, RBC Capital Markets, Baird, Needham & Company, LLC, and Pacific Crest Securities. Motricity has been approved to list on the NASDAQ Global Market as MOTR.