Blackstone-backed Liftoff Mobile set to open higher in Nasdaq debut
BUZZ-Blackstone-backed Liftoff Mobile set to open higher in Nasdaq debut ** Blackstone-backed Liftoff Mobile LFTO.O on track to open above offer price in Nasdaq debut after $437 million IPO
** Stock recently indicated to open at $24.50 apiece vs $23 IPO price
** Redwood City, California-based mobile app marketing firm sold 19 million shares above marketed range of $20 to $22 apiece
** Software industry has been largely absent from the U.S. IPO market this year on fears of disruption from AI
** LFTO provides mobile app developers with marketing and monetization tools to acquire users, boost engagement and generate revenue
** Investment funds affiliated with General Atlantic were allocated roughly 1.3 million shares in the offering
** Goldman Sachs, Jefferies and Morgan Stanley acted as joint lead book-running managers for the offering
(Reporting by Arasu Kannagi Basil in Bengaluru)
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Blackstone-backed Liftoff Mobile set to open higher in Nasdaq debut
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Brief: Liftoff Mobile Inc - Files For Initial Public Offering - SEC Filing