In a sign of strong demand, trendy branded headphone designer Skullcandy priced 9.44 million shares (1.1 million shares more than expected) at $20, above its proposed $17-$19 range. Of the IPO shares, 44% were offered by the company and the remainder was sold by existing shareholders. Underwriters BofA Merrill Lynch and Morgan Stanley lead managed the IPO, and the stock is expected to commence trading under the ticker symbol SKUL on Wednesday morning.
