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Synacor cuts price range 50% to $5-$6

February 9, 2012

Synacor, which enables cable TV firms to offer consumers online content and services, slashed the price range of its upcoming IPO in half. The company now plans to price its 6.8 million shares (20% from selling shareholders) at $5-$6, 50% below the original $10-$12 range. BofA Merrill Lynch and Citi are the bookrunners on the offering.