LPL Investment Holdings Inc. Announces Closing of IPO

LPL Investment Holdings Inc. 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.