Friday, June 21, 2013

Gogo Fails To Take Flight In IPO

In-flight wireless provider Gogo debuted in its IPO Friday on the NASDAQ stock market, but fell 5.8 percent in trading, hurt by its debut shortly after a big decline in the markets Wednesday. Gogo is trading as GOGO on the NASDAQ Global Select Market. The firm, which is based in Itasca, Illinois but has major operations in Broomfield, Colorado, priced its shares at $17 each, at the high end of its initial offering range of $15.00 and $17.00 per share. Gogo sold 11,000,000 shares of its common stock in the IPO. Gogo provides inflight Wi-Fi for the commercial airlines and private aviation market.