Oaktree Capital Management-backed digital infrastructure services firm ITG Inc priced its initial public offering below its targeted range at $16 per share on Tuesday, raising about $312.2 million in gross proceeds.
IPO Prices Below Initial Range
The offering was priced below the company’s previously marketed range of $19 to $22 per share outlined in its S-1 filing last week.
Fort Lauderdale, Florida-based company expects net proceeds of approximately $279.2 million after underwriting discounts, commissions and offering expenses.
The company said it plans to use the proceeds primarily to repay outstanding borrowings.
