Startups

Alarm.com to go public at $14 a share

The Vienna company will kick off its IPO at a valuation of nearly $630 million, under the ticker symbol ALRM.

Alarm.com, the Vienna-based company that makes interactive home management and security tools, announced Thursday night the pricing of its initial public offering, scheduled for Friday.
At $14 a share for 7 million shares, the company is kicking off with a mid-range valuation of approximately $627.9 million, according to the Wall Street Journal. Underwriters will be able to purchase an additional 525,000 shares.
Goldman Sachs, Credit Suisse and Bank of America are lead book-running managers for the offering. Law firm Cooley counseled the firm in the process.
Alarm.com was founded in 2000 and initially owned by MicroStrategy. Last year, it made $13.5 million in revenue.
Its current owner, ABS Capital Partners, along with investor Technology Crossover Ventures, will retain their position as majority shareholders, according to the Journal report.
Alarm.com will trade under the ticker symbol ALRM.

Companies: Alarm.com
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