Tremor Video (TRMR) IPO Prices at $10, Below Range
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Tremor Video (NYSE: TRMR) announced the pricing of its initial public offering of 7,500,000 shares of common stock at a price to the public of $10 per share, below the expected $11-$13 range. Shares will open shortly on the NYSE.
Credit Suisse Securities (USA) LLC and Jefferies LLC serve as joint book-running managers for the IPO. Canaccord Genuity Inc. and Oppenheimer & Co. Inc. are co-managers for the offering.
Tremor Video is a leading provider of technology-driven video advertising solutions enabling brand advertisers to engage consumers across multiple internet-connected devices including computers, smartphones, tablets and connected TVs.
From 2011 to 2012, Tremor Video's revenue increased from $90.3 million to $105.2 million. This included an increase in revenue derived from the delivery of in-stream video advertising from $75.5 million to $99.7 million, or 32.1%. Over this period, gross margin improved from 35.2% to 41.7%, driven in part by the adoption of their performance-based pricing models, while net loss has decreased from $21.0 million to $16.6 million. . For the three months ended March 31, 2013 as compared to the same period of 2012, revenue increased from $17.3 million to $24.8 million, or 43.4%, gross margin improved from 31.9% to 44.1% and net loss decreased from $9.1 million to $5.2 million.
Credit Suisse Securities (USA) LLC and Jefferies LLC serve as joint book-running managers for the IPO. Canaccord Genuity Inc. and Oppenheimer & Co. Inc. are co-managers for the offering.
Tremor Video is a leading provider of technology-driven video advertising solutions enabling brand advertisers to engage consumers across multiple internet-connected devices including computers, smartphones, tablets and connected TVs.
From 2011 to 2012, Tremor Video's revenue increased from $90.3 million to $105.2 million. This included an increase in revenue derived from the delivery of in-stream video advertising from $75.5 million to $99.7 million, or 32.1%. Over this period, gross margin improved from 35.2% to 41.7%, driven in part by the adoption of their performance-based pricing models, while net loss has decreased from $21.0 million to $16.6 million. . For the three months ended March 31, 2013 as compared to the same period of 2012, revenue increased from $17.3 million to $24.8 million, or 43.4%, gross margin improved from 31.9% to 44.1% and net loss decreased from $9.1 million to $5.2 million.
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