Motricity, which provides a web-based mobile data services platform for wireless carriers, raised $50 million on Thursday by offering 5.0 million shares at $10.00, the low end of the downwardly-revised $10.00-$11.00 range. The company had originally filed to raise more than double the actual proceeds by offering 6.8 million shares at a range of $14.00 to $16.00. Motricity is expected to begin trading Friday on the NASDAQ under the symbol MOTR. J.P. Morgan and Goldman, Sachs & Co. were the lead underwriters on the deal.
