NEW YORK-Jamdat Mobile Inc. closed a spectacular initial public offering that saw the mobile-game developer net $65.3 million.
Jamdat said it sold 4.39 million shares at $16 each, while stockholders sold another 1.99 million shares during the IPO. The company had filed for an offering of 5.31 million shares in the estimated price range of $13 to $15.
The stock then soared 41 percent Wednesday, the first day of trading on the Nasdaq. It continued to climb last week, closing at $27 Friday. Mid-day Tuesday, it had settled at $25.56.
Lead underwriters Lehman Bros. Inc. and Merrill Lynch & Co. were among those that exercised their overallotment options.
Jamdat said it will use the proceeds as working capital, but may also look to acquire other companies and technologies.<
