NEW YORK (TheStreet) -- Shares of HubSpot(HUBS) - Get Report are rising, up 6.94% to $39.90 on very heavy volume in mid-morning trading Wednesday, after the company announced the pricing of its follow-on public offering of 4.11 million common shares at $37 per share late yesterday.
The company said the offering consists of 3.26 million shares from certain existing stockholders and 850,000 shares from HubSpot.
Also, HubSpot and the selling stockholders have granted the underwriters a 30-day option to purchase an additional 617,172 common shares.
About 1.2 million shares of HubSpot have exchanged hands as of 10:14 a.m. ET today, compared to its average daily trading volume of about 148,796 shares.
Cambridge, MA-based HubSpot develops Internet marketing software for small and mid-sized businesses.
The company's software platform includes tools that allow professional marketers and small business owners to manage search engine optimization, blogging and social media, as well as landing pages, lead intelligence and marketing analytics.