Bridgepoint IPO Priced Low, but Shares Rise

Bridgepoint Education (BPI Quote) saw its initial public offering, or IPO, price 30% below the midpoint of its estimated range, although investors are still hoping to see the same high returns as other recent offerings.

The San Diego-based provider of online and classroom education services expected to price a $216 million IPO in range to $14 and $16 a share, but the offering ultimately priced at $10.50 a share, raising only $141.75 million. The stock began trading Wednesday morning on the New York Stock Exchange under the ticker symbol BPI.

While the lower-than-expected pricing could be considered a setback for an already-struggling IPO market, all hope is not lost.

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