Thursday, July 22, 2010
Green Dot Up 20 Percent In Early Trading
Monrovia-based Green Dot, the provider of prepaid credit cards which hit the markets this morning in its IPO, is up in early trading this morning on the NYSE. The firm, which debuted at GDOT this morning, was up as high as $44.83 so far this morning. The firm priced last night above its initial estimated range of $32 to $35 per share, at $36.00 per share. The IPO was underwritten by J.P. Morgan, Morgan Stanley, Deutsche Bank Securities, Piper Jaffray & Co., and UBS Securities. The firm is backed by Sequoia Capital, the Tech Coast Angels, TTP Fund, and the Tech Coast Angels.