TubeMogul (TUBE) Stock Down After Pricing Public Offering

NEW YORK (TheStreet) -- Shares of TubeMogul (TUBE) were falling 6% to $15.52 on heavy trading volume Thursday after the software company prices the 5,263,246 shares of common stock in its follow-on offering.

TubeMogul priced the 5,263,246 shares of common stock in the offering at $15.75 a share. The company will sell 3.5 million shares in the offering, with selling stockholders offering the remaining 1,763,246 shares in the offering.

The software company granted the underwriters of the offering a 30-day option to buy up to 789,486 additional shares of common stock.

TubeMogul will not receive any proceeds from the 1,763,246 shares sold by the selling stockholders in the offering.

About 1.9 million shares of TubeMogul were traded by 10:44 a.m. Thursday, above the company's average trading volume of about 283,000 shares a day.

TUBE ChartTUBE data by YCharts

More from Markets

Sohn Conference Briefly Distracts From Barrage of Earnings -- ICYMI

Sohn Conference Briefly Distracts From Barrage of Earnings -- ICYMI

Dow and Nasdaq Finish Lower as 10-Year Treasury Yield Hovers Near 3%

Dow and Nasdaq Finish Lower as 10-Year Treasury Yield Hovers Near 3%

Video: Stop Using Student Loan Money to Buy Bitcoin

Video: Stop Using Student Loan Money to Buy Bitcoin

Let the Najarian Brothers Crash-Proof Portfolio

Let the Najarian Brothers Crash-Proof Portfolio

Facebook Sends Facial Recognition Notification in Error

Facebook Sends Facial Recognition Notification in Error