CE Pro BEST Product Awards | CE Pro BEST Project Awards
News

Alarm.com (ALRM) Opens Strong on Nasdaq; Home Automation Stock Rising

Alarm.com (Nasdaq: ALRM), leading provider of cloud platforms for security and home automation, opened with a bang on Nasdaq today.


Home automation platform provider Alarm.com (Nasdaq: ALRM) doing well on first day of IPO
Julie Jacobson · June 26, 2015

Millions of shares of Alarm.com (Nasdaq: ALRM) are trading hands in the first day of the home automation provider’s IPO. The company, which was offering 7 million shares at $14, saw its stock open at $16.05, or almost 15% above the initial offering price.

In only an hour of trading, nearly 6 million shares have been exchanged at prices up to $17.88, or 27.7% above the offering price.

Alarm.com is only the second worthwhile pure-play home automation IPO after Control4, which went public in 2013.

On its first day of trading, Control4 opened at 23.4% above its offering price and ended the day at 25.3% above its initial price.

When Alarm.com announced its impending IPO through a Form S-1 Filing in May 2015, we speculated the company would achieve a market valuation of about $850 million to $900 million (and I added some bonus points for hype factor to bring the potential market cap to more than $1 billion).

At $14 per share, the initial fully diluted market value was about $669 million.

The Alarm.com 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.

We’ll keep an eye on the market cap in the coming days.

Email .(JavaScript must be enabled to view this email address) to keep abreast of ALRM and related news.

- - - - - - - - - - - - - - - -
JULIE JACOBSON
image image image image



We're Looking for Your BEST Projects

Don’t miss your chance to enter to win a 2019 BEST Projects Award. We’ll be announcing winners at a special Gala event at CEDIA EXPO. We can’t wait to see what you’ve been up to this year! Enter your projects now.




  About the Author

Julie Jacobson is founding editor of CE Pro, the leading media brand for the home-technology channel. She has covered the smart-home industry since 1994, long before there was much of an Internet, let alone an Internet of things. Currently she studies, speaks, writes and rabble-rouses in the areas of home automation, security, networked A/V, wellness-related technology, biophilic design, and the business of home technology. Julie majored in Economics at the University of Michigan, spent a year abroad at Cambridge University, and earned an MBA from the University of Texas at Austin. She is a recipient of the annual CTA TechHome Leadership Award, and a CEDIA Fellows honoree. A washed-up Ultimate Frisbee player, Julie currently resides in San Antonio, Texas and sometimes St. Paul, Minn. Follow on Twitter: @juliejacobson Email Julie at julie.jacobson@emeraldexpo.com

Follow Julie on social media:
Twitter · LinkedIn · Google+

Julie also participates in these groups:
LinkedIn · Google+

View Julie Jacobson's complete profile.



  Article Topics


News · Alarm.com · Control4 · IPO · All Topics
CE Pro Magazine

Read More Articles Like This… With A Free Subscription

CE Pro magazine is the resource you need to keep up-to-date on the latest products, techniques, designs and business practices. Subscribe today!

Subscribe Today!