Alarm.com on Friday announced that its initial public offering of 7,000,000 shares of common stock would be offered to the public at a price of $14 per share. The shares have begun trading on the Nasdaq Global Select Market under the symbol "ALRM."
In addition, the 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 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.
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.
As of press time on Monday, the company’s stock was trading at just above $16 per share.
