Monday, July 22, 2013

Control4 Sets IPO Offering Range

In the next step towards an IPO, Salt Lake City-based Control4 has set its expected offering range for its IPO. The firm said in a filing that it is now expecting to sell 4,000,000 shares of its common stock at between $15.00 and $17.00 a share. Control4 is aiming to trade on the NASDAQ Global Makret as CTRL. The pricing range indicates that the company is moving closer to an actual IPO on the market, and is used to gauge investor interest in the company during a company's roadshow; usually, a company will price the actual IPO the day before it starts trading on the public markets. Control4 is venture backed by Foundation Capital, Thomas Weisel Venture Partners, Signal Peak Ventures, Frazier Technology Ventures, and Cisco Systems. Control4 had filed for its IPO earlier this month. Control4 is a developer of home automation products.