BUZZ-Blackstone-backed Liftoff Mobile set to open higher in Nasdaq debut

Liftoff Mobile
Blackstone Inc.

Liftoff Mobile

LFTO

0.00

Blackstone Inc.

BX

0.00

** Blackstone-backed Liftoff Mobile LFTO.O on track to open above offer price in Nasdaq debut after $437 million IPO

** Stock recently indicated to open at $24.50 apiece vs $23 IPO price

** Redwood City, California-based mobile app marketing firm sold 19 million shares above marketed range of $20 ​to $22 apiece

** Software industry has been largely ​absent from the U.S. IPO market this year on fears of disruption from AI

** LFTO provides mobile app developers ‌with ⁠marketing and monetization tools to acquire users, boost engagement and generate revenue

** Investment funds affiliated with General Atlantic were allocated roughly 1.3 million shares in the offering

** Goldman Sachs, Jefferies and Morgan Stanley acted as joint lead book-running managers for the offering


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