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Millennial Media Closes IPO

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Millennial Media, Inc. (MM: Quote) said Tuesday it has closed its initial public offering of 10.2 million shares of common stock at a public offering price of $13.00 per share.

Of the shares, 9.2 million0 shares were sold by the company and 1.0 million shares were sold by selling stockholders.

In connection with the initial public offering, the underwriters exercised in full their option to purchase an additional 873,270 shares from the company and 656,730 shares from the selling stockholders.

As a result, the total initial public offering size was 11.73 million shares. Morgan Stanley & Co. LLC, Goldman, Sachs & Co. and Barclays Capital Inc. acted as joint bookrunners for the offering. Allen & Company LLC and Stifel Nicolaus Weisel acted as co-managers.

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by RTT Staff Writer

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