Millennial Media Raises iPO Price Range to $152 Million

As Mobile Marketing Watch reported March 15th, Wall Street continues to closely – and eagerly – watch the looming IPO from Millennial Media, a leading independent mobile advertising platform.

Earlier this month, the company announced terms for its IPO. According to details provided, the company aims to raise $102 million by offering 10.2 million shares at a price range of $9.00 to $11.00. 9.2 million shares will be available to the public.

But that was then. This is now.

Millennial Media now plans to raise closer to $152 million when it goes pubic on the New York Stock Exchange. According to the company’s latest filing with the SEC, Millennial Media is boosting its per-share price range to $11 to $13.

Morgan Stanley, Goldman Sachs and Barclays Capital are serving as lead underwriters for the IPO.

Two months ago the company filed with the U.S. Securities and Exchange Commission to raise upwards of $75 million in the IPO.

As it’s presently understood, the infusion of cash from the IPO will be applied toward expanding the company’s international operations and product development.

Millennial Media will list its shares on the New York Stock Exchange under the symbol “MM.”