Finance History | Nasdaq MarketSite — Eighteen Dollars Opened at Twenty-Eight Seventy-Five as TTD
· 2016-9
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Finance History | Nasdaq MarketSite — Eighteen Dollars Opened at Twenty-Eight Seventy-Five as TTD
kevin
People treat The Trade Desk as a Ventura ad-tech house that always printed TTD after a finished Nasdaq book.
The letters arrived as a cash IPO.
A company release dated 21 September 2016 records that The Trade Desk, Inc. began trading on The Nasdaq Stock Market under TTD that morning, and that the chief executive would preside over the Nasdaq closing-bell ceremony at MarketSite in Times Square.
An SEC Exhibit 99.1 dated 26 September 2016 records the close of the offering: 5,366,667 Class A shares, inclusive of the underwriters' full option of 700,000 shares sold by selling stockholders, at 18.00 dollars per share in 2016 currency.
The same exhibit estimates net proceeds to the company at about 74.1 million dollars after discounts and expenses, and states that the company received no proceeds from the selling-stockholder shares.
Nasdaq's own welcome release dated 21 September 2016 records the MarketSite visit that day.
Business Insider, covering the same session, records an open of 28.75 dollars, a 59 percent pop on the 18-dollar offer, and a close of 30.10 dollars.
TechCrunch, reporting independently, records the same open of 28.75 dollars and the same close of 30.10 dollars.
The mechanism is a primary Class A float sold into an electronic book, with a selling-stockholder sleeve riding the same tape, not a merger cutover that retired another symbol.
The pin is the public facade of Nasdaq MarketSite at 4 Times Square, where the issuer rang the close. Interior studios are not a visitor floor.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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