Internet services company Synacor raised about $34m from its initial public offering (IPO) when it floated on Friday. The US-based firm cut the range of its IPO from $10-$12 per share to $5-$6 per share on Thursday, before pricing the 6.82 million shares at $5.00.
Intel divested 104,000 shares in the offering, retaining just under 2 million shares, while additional shareholders include Walden International, North Atlantic Capital, Advantage Capital Partners, Crystal Internet Ventures, Rand Capital and Access Technology Capital, the VC unit of investment firm Access Industries.The company said in its filing with the Securities and Exchange Commission that it had raised $28,4m in its history across four funding rounds.