Shares of Yext Inc. were trading at $13.74 Thursday morning, above the company's $11 issue price, in the stock's debut on the New York Stock Exchange. The New York-based company, which helps businesses streamline locations and other data across digital platforms, sold 10.5 million shares to raise $115.5 million at a valuation of $940 million. Underwriting banks have the option to buy an additional 1.6 million shares. Morgan Stanley, J.P. Morgan and RBC Capital Markets were the lead underwriters on the offering.
Continue Reading Below
Copyright © 2017 MarketWatch, Inc.