Blackstone-Backed Liftoff Mobile Files for US IPO

MT Newswires Live01-30

Blackstone (BX)-backed Liftoff Mobile filed a preliminary prospectus on Thursday with US regulators for a planned initial public offering of 25.4 million shares priced at $26 to $30 each.

Redwood City, California-based Liftoff intends to list its shares on the Nasdaq under the ticker symbol LFTO. The company plans to use the net proceeds for general corporate purposes, including potential debt repayment.

Additionally, existing stockholders are expected to grant the underwriters a 30-day option to purchase up to an additional 3.81 million shares to cover overallotments at the IPO price, less underwriting discounts and commissions. Liftoff won't receive any proceeds from any such sale of shares by the selling stockholders.

Price: 141.92, Change: -4.88, Percent Change: -3.32

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