2U (TWOU) Stock Reaches New High

NEW YORK (TheStreet) -- 2U  (TWOU) closed at a new high of $15.61 on Wednesday after the stock rose 11.02%, or $1.55 from its previous close of $14.06.

2U, which first started trading on Friday, priced its initial public offering at $13, the high end of its range of $11 to $13. The company sold 8 million shares, while selling stockholders sold 1.2 million shares for a total of 9.2 million shares in the IPO. The company and some selling stockholders also included a 30-day option for underwriters to buy up to an additional 1.4 million shares.

The Landover, Md.-based company was founded in 2008 and provides software to colleges and universities to facilitate online classes

2U had a loss of $28.3 million on revenue of $83.1 million in 2013, according to the AP. That revenue figure was nearly 50% greater than its revenue in 2012.

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TWOU Chart

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