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Marin Software rises in debut on the NYSE

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Marin Software rises in debut on the NYSE
Submitted by Fox First at Ten on March 22nd

NEW YORK (AP) - Shares of Marin Software climbed nearly 27 percent in their first day as a publicly traded company.

The software company's stock rose $3.76, or 26.9 percent, to $17.76 in morning trading.

Marin Software Inc. raised $105 million in the initial public offering. The San Francisco company priced the IPO at $14 per share, above the expected price range of $11 to $13 a piece.

The size of the IPO increased to 7.5 million shares from 7 million shares.

The underwriters are getting a 30-day option to buy up to an additional 1.1 million shares at the IPO price.

Marin Software is trading on the New York Stock Exchange under the "MRIN" ticker symbol.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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