Q2, which provides network security software to financial institutions, priced its IPO at $13 and sold 7.8 million shares to raise $101 million. The company had set an initial expected price range of $11 to $13. Of the shares sold, 6.5 million were from the company and 1.5 million were from prior investors.
Q2's IPO is one of the first in what could be a resurgence in tech IPOs in the next several weeks. Paylocity (PCTY), another tech company, had its first day of trading on Wednesday and surged more than 40%.
As of 10:23 a.m., the stock had hit a high of $17.38.Must Read: Warren Buffett's 10 Favorite Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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