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Marin Software rises in debut on the NYSE

[March 23, 2013]  NEW YORK (AP) -- Shares of Marin Software climbed nearly 27 percent in their first day as a publicly traded company.

The software company's stock rose $3.76, or 26.9 percent, to $17.76 in morning trading.

Marin Software Inc. raised $105 million in the initial public offering. The San Francisco company priced the IPO at $14 per share, above the expected price range of $11 to $13 a piece.

The size of the IPO increased to 7.5 million shares from 7 million shares.

The underwriters are getting a 30-day option to buy up to an additional 1.1 million shares at the IPO price.

Marin Software is trading on the New York Stock Exchange under the "MRIN" ticker symbol.

[Associated Press]

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