ReachLocal IPO prices 28 pct below range-underwriter
NEW YORK |
NEW YORK May 19 (Reuters) - Internet marketing company ReachLocal Inc (RLOC.O) priced shares in its initial public offering below the expected range on Wednesday, according to an underwriter.
The Woodland Hills, California-based company sold 4.17 million shares for $13 each, raising about $54.17 million. It had planned to sell shares for $17 to $19 each. (Reporting by Clare Baldwin, editing by Bernard Orr)
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