NEW YORK (AP) — Shares of LifeLock fell more than 3 percent in its first day of trading as the online provider of identity theft protection services priced its initial public offering below the anticipated range.
The Tempe, Ariz., company dropped 30 cents, or 3.2 percent, to $8.70 in morning trading on Wednesday. The shares opened at $8.38, down 7 percent from the $9 offering price. The broader markets were mostly higher.
The offering of 15.7 million shares was expected to price between $9.50 and $11.50 each, according to a regulatory filing.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
