Thursday, January 27, 2011
Demand Media Underwriters Buy Additional Shares
Santa Monica-based Demand Media, riding high on a successful IPO debut Wednesday, said Thursday that its underwriters have exercised their option to purchase an additional 675,000 shares from Demand Media, and 660,000 shares from selling stockholders at its initial offering price. The additional shares bring the total shares of common stock up to 10.235M shares in Demand. The firms' underwriters had been granted the option just prior to the firm's debut. Demand originally had filed to offer up to 7.5M shares in its IPO, bumping that to 8.9M on Tuesday evening just prior to the IPO.