Alarm.com Holdings Inc. announced the pricing of its initial public offering of 7 million shares of common stock to the public at $14 per share. All shares are being offered by Alarm.com. The shares are expected to begin trading on the Nasdaq Global Select Market on June 26, 2015, under the symbol ALRM.
According to press release from Alarm.com, underwriters have a 30-day option to purchase up to an additional 525,000 shares from Alarm.com and up to 525,000 shares of common stocks from selling stockholders at the initial public offering price to cover any over-allotments.
Goldman, Sachs & Co., Credit Suisse Securities (USA) LLC, and BofA Merrill Lynch are acting as joint book-running managers for the offering. Stifel, Raymond James & Associates Inc., William Blair & Company LLC and Imperial Capital LLC are acting as co-managers.
IPOboutique has rated Alarm.com to a 4 (out of 5), which is considered a strong buy.
According to an article from Greentech Media, Alarm.com seeks to be at the forefront of the alarm industry’s major players getting into the connected home business. These companies are looking for ways to service customers who want not only security, but, increasingly, the ability to control their homes via connected products. As players like Apple and Nest offer such platforms, major security providers like Alarm.com are offering connected home services in addition to traditional security services to retain customers and remain on the cutting edge of industry technology.
Visit www.greentechmedia.com/articles/read/Alarm.com-Sets-Terms-of-98M-IPO-for-Connected-Home-Services to see the entire article, or visit www.alarm.com for information.