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July 23, 2021, 11:23 a.m. EDT

Outbrain shares up 1.6% in trading debut after IPO priced below range

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By Ciara Linnane

Shares of New York-based online content recommendation company Outbrain Inc. /zigman2/quotes/228095876/composite OB +3.63% rose 1.6% in their trading debut Friday, after the company's initial public offering priced at $20 a share, below the $24 to $26 price range. The company sold 8 million shares to raise $160 million at a valuation of $1.07 billion. The stock is trading on the Nasdaq under the ticker symbol "OB." Citigroup, Jefferies, Barclays and Evercore ISI led a group of seven underwriters. The company recorded net income of $4.4 million on revenue of $767.1 million in 2020, after a loss of $20.5 million on revenue of $687.3 million in 2019. The Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -1.41% is down 3% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.15% has gained 17%.

/zigman2/quotes/228095876/composite
US : U.S.: Nasdaq
$ 16.28
+0.57 +3.63%
Volume: 188,133
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$897.87 million
Rev. per Employee
N/A
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 69.00
-0.99 -1.41%
Volume: 154,770
Sept. 24, 2021 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,455.48
+6.50 +0.15%
Volume: 1.69B
Sept. 24, 2021 5:05p
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