IPO News: Acme Soars, Neuf Preps
October 13, 2006
AcmePacket's starting price was $9.50, already a significant leap from earlier this week when the original price range was set at between $6.50 and $7.50. With 11.5 million shares, about 20 percent of the stock, being made available, the company raised $109 million, giving it a valuation of about $545 million. Closing price on the first day: $15.91.