Alarm.com Begins Trading on NASDAQ
Alarm.com began trading stock on NASDAQ on June 26. The company becomes only the second pure-play home automation IPO after Control4.
It’s official, Alarm.com (Nasdaq: ALRM), the home automation platform provider, went public on June 26 with an initial public offering of 7,000,000 shares of common stock priced to the public at $14.00 per share.
In addition, the underwriters have been granted a 30-day option to purchase up to an additional 525,000 shares from Alarm.com and up to 525,000 shares of common stock from selling stockholders at the IPO price to cover over-allotments, if any.
RELATED: Alarm.com Initial Valuation Set for Home Automation IPO
Alarm.com will not receive any proceeds from the sale of shares by the selling stockholders.
Alarm.com is only the second substantial pure-play home automation IPO after Control4, which went public in 2013.
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About the Author
Julie Jacobson
Julie Jacobson, recipient of the 2014 CEA TechHome Leadership Award, is co-founder of EH Publishing, producer of CE Pro, Electronic House, Commercial Integrator, Security Sales and other leading technology publications. She currently spends most of her time writing for CE Pro in the areas of home automation, security, networked A/V and the business of home systems integration.
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