Mobile Ad Giant Millennial Media Prices Shares at $13 on Eve of IPO

Mobile advertising juggernaut Millennial Media has priced its stock at $13 per share for Thursday’s long awaited and eagerly anticipated initial public offering.

The initial public offering of 10.2 million shares of common stock will begin trading on the New York Stock Exchange under the ticker symbol “MM” tomorrow, Thursday, March 29, 2012.

Once again reiterating familiar details in this afternoon’s press release, a total of 9.2 million shares are being offered by Millennial, and a total of 1 million shares are being offered by selling stockholders.

Millennial and the selling stockholders have also granted the underwriters a 30-day option to purchase an aggregate of up to an additional 1.53 million shares.

Millennial says it “will not receive any proceeds from the sale of shares by the selling stockholders.”

As MMW previously reported, Morgan Stanley & Co. LLC, Goldman, Sachs & Co. and Barclays Capital Inc. are the joint bookrunners for the offering. Allen & Company LLC and Stifel Nicolaus Weisel are co-managers for the offering.

We will keep you posted tomorrow on Millennial Media’s Wall Street entry.