WideOpenWest Raises $310M in IPO

Sells 18.2M shares at $17 each, short of original expectations
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WideOpenWest quietly raised $310 million in its debut on the New York Stock Exchange May 25, pricing shares at $17 each Wednesday night, short of its earlier target of between $20 and $22 each.

WOW had initially filed documents for the offering in March, with plans to issue 19 million shares to the public. Another 2.8 million shares was set aside for its underwriters, which have the option of purchasing the shares in the next 30 days. 

About 18.2 million shares were priced at $17 each on Wednesday night, raising a total of $310 million, according to documents.

WOW stock opened at $16.25 on May 25 and traded as high as $17.15 per share but fell as the day progressed, closing at $16.50 each.

For the full story go to Multichannel.com.

(Photo via Dan Nelson's Flickr. Image taken on June, 24, 2015 and used per Creative Commons 2.0 license. The photo was cropped to fit 3x4 aspect ratio.)

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