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.
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LifeLock is offering 15.5 million shares in the IPO, while certain selling stockholders are offering 200,000 shares.
The stock is listed on the New York Stock Exchange under the "LOCK" ticker symbol.
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