Thursday, August 12, 2010
RealPage Prices IPO
Carrollton, Texas-based RealPage, a developer of property management software, priced its IPO late last night, saying that it will sell 12.3M shares of its stock at $11 per share. The IPO pricing was below the firm's last estimated range of $13.00 to $15.00 per share. RealPage is listing ist stock on the NASDAQ Global Select Market under the symbol RP. The IPO is being underwritten by Credit Suisse, Deutsche Bank Securities, William Blair & Company, RBC Capital Markets, JMP Securities, and Pacific Crest Securities. After the IPO, the firm's CEO and Chairman, Stephen T. Winn, will own approximately 46 percent of the company. Other investors in the firm include Advanced Capital Partners and Apax Excelsior VI.