Austin’s Q2 Holdings gets a warm welcome from Wall Street after IPO

Mar 21, 2014
Austin American Statesman

Q2 Holdings got a warm welcome from Wall Street on Thursday, with shares of the company’s initial public stock offering soaring 30 percent in the first morning of trading


Shares of the Austin-based company jumped 30 percent at the open of trading to $17


The shares on Wednesday went for $13, which was at the high end the $11 to $13 price range the company had been seeking


The company raised about $101 million in the IPO. Q2 Holdings said the total offering was for about 7.8 million shares. Of those, Q2 Holdings said it would sell 6.25 million shares, raising about $81.3 million, while an additional 1.51 million shares would be sold by existing investors, raising about $19.6 million


The underwriters for the IPO also have an option to purchase an additional 1.16 million shares, the company said


Founded in 2004, the company provides electronic banking services to more than 300 banks and credit unions


Q2 Holdings trades on the New York Stock Exchange under the symbol QTWO


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