NEW YORK-Aether Systems Inc., a middleware provider based in Owings Mills, Md., sold an initial public offering Oct. 20 of 6 million shares, a 23-percent equity stake, priced at $16 each, $1 above its expected maximum range.
The following day, Aether’s stock nearly tripled, closing at $48.43 at RCR press time. In total, the IPO raised $96 million.
Merrill Lynch & Co. was lead manager for the IPO, whose stock trades on Nasdaq.
Aether, which targets the financial services industry, licenses its Aether Intelligent messaging software, which provides a bridge between corporate enterprise applications and handheld devices.
