Shares of Goleta-based Inogen settled into the low $15 range as the Business Times went to press Feb. 19 after the company raised $70.5 million in an initial public offering that priced at $16, the low end of its expected range. In addition to selling shares, the company changed some of the disclosures it made to investors, pointing out its steep reliance on government and private insurance programs for 41 percent of its total revenue in 2012.
Vitesse, which had $103.7 million in revenue last year, is hoping that the Internet of things will converge with the turnaround strategy it has been mounting for the past several years that is starting to come to fruition.
Conversant will align all of its business units — including a new SET Media video unit that it acquired for $26 million in cash and $4 million in stock days after its name change — around the goal of direct conversations between advertisers and consumers.
Goleta-based Inogen has raised $70.5 million in an initial public offering of 4.4 million shares priced at $16, the bottom of the expected $16 to $18 a share range, according to IPO investment firm Renaissance Capital.
Shares of Westlake Village-based Conversant gained sharply in after-hours trading on Feb. 11 as the company delivered profits that beat Wall Street’s expectations and announced big changes designed to lead to growth.
Goleta-based Inogen has boosted the amount it plans to raise in its initial public offering to a possible $91.3 million. The pricing is a sign that Inogen and its underwriters — J.P. Morgan, Leerink Partners, William Blair and Stifel — believe there’s strong demand for its shares.
