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IPO Drought Ends with Grand Canyon Deal

There's been an IPO siting at the online university, ending a dry spell that started in August.

November 20, 2008

Grand Canyon Education Inc. broke the initial public offering draught on Thursday when it priced 10.5 million shares at $12 per share, and began trading on the Nasdaq Global Market on Thursday. The deal marks the first IPO issued in the United States since Aug. 8, when Rackspace Hosting Inc. announced its offering, according to investment bank Renaissance Capital, which maintains the IPO Home website. The Rackspace deal "broke the longest IPO drought since the 1970s," reported Renaissance. Read more...

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