Bandwidth Inc. had its initial public offering Friday and investors sent the stock up 5% to $21 in late afternoon trading. Executives priced the IPO at $20, the low end of the $20 to $22 range executives sought, according to filings with the Securities and Exchange Commission. The Cary, NC-based company sold 4 million shares, and raised $80 million as the stock listed on Nasdaq under the ticker symbol “BAND”. Bandwidth bills itself as a communications provider offering a range of VoIP services such as messaging, voice and 9-1-1 calling.
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