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CDW Corp., which provides information technology services for businesses, universities and government agencies, raised about $396 million. It sold 23.3 million shares for $17 each, the low end of the Vernon Hills, Ill.-based company's revised range of $17 to $18. In mid-June, CDW had said it hoped to sell 27.9 million shares for $20 to $23 apiece. The stock rose 8.1 percent to $18.37. Demand for the company's stock was probably hurt by recent reports of IT spending cuts, Leffert said. Both HD Supply and CDW plan to use the proceeds from their IPOs to pay down debt. Several other companies also traded higher after pricing below expectations. Pet medicine developer Aratana Therapeutics Inc. gained 38 percent to $8.26 after raising about $35 million. The Kansas City, Kan., company priced 5.8 million shares at $6 each. It had hoped for a price of $11 to $13 in a smaller offering of 4.3 million shares. And shares of Silvercrest Asset Management Group Inc. rose 7.6 percent to $11.83 after the New York investment manager raised nearly $53 million. It sold 4.8 million shares for $11 each, below its expected range of $12 to $14. But Tremor Video Inc. shares failed to gain traction, falling 15 percent to $8.50. The New York video ad company raised $75 million in its IPO -- 7.5 million shares for $10 each, below the expected range of $11 to $13.
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