Rocket Fuel, which provides an automated platform to optimize real-time digital ad buying, raised the proposed deal size for its upcoming IPO on Wednesday. The Redwood City, CA-based company now plans to raise $112 million by offering 4.0 million shares at a price range of $27 to $29. The company had previously filed to offer 4.0 million shares at a range of $24 to $27. At the midpoint of the revised range, Rocket Fuel will raise 10% greater proceeds than previously anticipated.
Rocket Fuel, which was founded in 2008 and booked $160 million in sales for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol FUEL. Rocket Fuel initially filed confidentially on June 24, 2013. Credit Suisse and Citi are the joint bookrunners on the deal. It is expected to price during the week of September 16, 2013.
