BladeLogic Cuts Through in Debut
Shares of BladeLogic (BLOG), a maker of data-center-automation software, soared 50% on their first day of trading Wednesday.
The Lexington, Mass., company's initial public offering of 5 million shares priced at $17 a share -- much higher than the initial expectation of $12 to $14. The stock recently had jumped $8.35 to $25.35 on volume of more than 4 million shares.
BladeLogic sold 3.94 million of the shares, while the remainder was sold by selling stockholders.
Other IPOs Wednesday didn't fare as well. Monotype (TYPE), a Woburn, Mass., maker of text imaging systems, was adding just a penny to its IPO price to $12.01.Validus (VR), a Bermuda-based reinsurer, saw its shares rise to $22.42 from its offering price of $22. Rex Energy (REXX) was among the losers, falling 98 cents, or 8.9%, to $10.02 after debuting at $11. The State College, Pa., company is an oil and gas concern operating in the Illinois Basin, the Appalachian Basin and the Southwest.
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