Kayak Software Corp. (KYAK) said late Thursday that it has priced its initial public offering of 3.5 million shares of its Class A common stock at a price to the public of $26 per share, which is above its previously estimated price range of $22 to $25 per share.
All of the shares were offered directly by Kayak. In addition, the company has granted the underwriters a 30-day option to purchase up to 525,000 additional shares of Class A common stock to cover over-allotments, if any.
The shares are expected to begin trading on Nasdaq on Friday, July 20 under the ticker symbol "KYAK".
Morgan Stanley and Deutsche Bank Securities are acting as joint book-running managers for the offering. Piper Jaffray, Stifel Nicolaus Weisel and Pacific Crest Securities are co-managers for the offering.
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