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NEW YORK — Shares of Active Network are rising in midday trading after the company priced its initial public offering lower than it had hoped.
Shares sold for $15 each, below the projected $16 to $18 range. The San Diego company and its stockholders raised $165 million.
Active Network Inc. provides online sign-up services for sporting events. Runners can register for 5Ks and marathons on the website. Active says it also provides services for business events and community activities.
The stock is trading on the New York Stock Exchange under the symbol "ACTV." Shares are up more than 7 percent at $16.08.
The somewhat muted response to Active's IPO comes as recent heavy demand for technology offerings is recalling the late-1990s dot-com bubble for some investors.
