TechTarget IPO Priced at $13 Per Share

TechTarget, the online IT trade media firm, has priced its 7.7 million share IPO at $13 per share…it will start trading tomorrow on Nasdaq under the symbol “TTGT”. Of the 7.7 million shares, about 6.43 million shares are being sold by TechTarget and 1.27 million shares are being sold by other stockholders. The company will use the money to “repay certain outstanding debt, and primarily for working capital and other general corporate purposes (including financing the development of new offerings), sales and marketing activities, and capital expenditures.”

The underwriters, led by Morgan Stanley and Lehman Brothers, will have the option to buy another 1.2 million shares to cover over-allotments. More details in release.

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