Alarm.com sets price at $14 per share
VIENNA, Va.—Alarm.com Holdings Inc. has priced its initial public offering of 7 million shares of common stock at $14 per share. The shares are expected to begin trading on NASDAQ today, June 26, under “ALRM,” according to the company.
Underwriters have a 30-day option to purchase up to an additional 525,000 shares and up to 525,000 shares of common stock from selling stockholders at the initial public offering price to cover over-allotments, if any. Alarm.com will not receive any proceeds from the sale of shares by the selling stockholders, the company said in a prepared statement.
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.
Alarm.com, which provides a cloud-based platform solution for the connected home, announced its IPO filing in May.