YuMe Prices IPO At $9/share, Below Estimated Range - Quick Facts

(RTTNews) - YuMe, Inc., a leading provider of digital video brand advertising solutions, announced the pricing of its initial public offering of 5.125 million common shares at $9.00 per share, well below its expected price range

In the amended S-1 filing with the SEC on August 2, the company had expected the pricing between $12.00 and $14.00 per share.

Redwood City, California-based YuMe shares are expected to begin trading on The New York Stock Exchange on August 7, 2013 under the symbol "YUME."

YuMe said that it is selling all 5.125 million shares being sold in the offering.

The underwriters have been granted a 30-day option to purchase up to an additional 768,750 shares of common stock from certain selling stockholders at the initial public offering price.

The company plans to use proceeds from the IPO to finance its operations, including for potential acquisitions or investments in its technology..

Citigroup, Deutsche Bank Securities and Barclays are acting as joint book-running managers for the offering. Needham & Company and Piper Jaffray are acting as co-managers.