Denver, Colo.-based digital marketing company Ibotta launched its initial public offering on the New York Stock Exchange Thursday, selling 6.56 million shares at $88 apiece and raising over $577.3 million.
Shares are traded on the exchange under the ticker symbol IBTA.
The share price came in higher than anticipated, coming in above the initially projected range of $76 to $84.
The stock opened at $117 and hit a low of $96 over the course of its first day on the exchange.
Ibotta CEO Bryan Leach spoke with Supermarket News on Thursday, a few hours after the launch, saying that “overwhelming demand” enabled the Walmart-backed company to expand the IPO.
“We issued another million shares to try and meet that demand,” Leach said in the interview. “We were able to price not only at the top of the range, but actually above the range which was another indication that even…
