Alarm.com Opens on NASDAQ at $14 Per Share
Alarm.com has gone public, offering of 7,000,000 shares of common stock at $14.00 per share. The company is one of only a handful of home automation IPOs, the most recent being Control4, which went public in 2013.
Meanwhile, underwriters have been granted a 30-day option to purchase up to an additional 525,000 shares from Alarm.com and up to 525,000 shares of common stock from selling stockholders at the IPO price to cover over-allotments.
Alarm.com will not receive any proceeds from the sale of shares by the selling stockholders.♦