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.
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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