LPL Investment Holdings Inc. Announces Closing of IPO
LPL Investment Holdings Inc. (Nasdaq: LPLA) today announced the closing of its initial public offering of 15,657,482 shares of its common stock by selling stockholders at a price of $30.00 per share.
Prior to closing, the underwriters exercised their option to purchase an additional 1,565,748 shares of common stock from the Company and a selling stockholder. Including the over-allotment, the Company and selling stockholders sold a total of 17,223,230 shares of the Company's common stock at a price to the public of $30.00 per share.
Excluding shares offered by selling stockholders, after underwriting discounts and commissions and estimated offering expenses, the Company received net proceeds of approximately $37.2 million.
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