The Gruner + Jahr and Susquehanna International Group-backed content recommendation engine developer floated below its range but is slightly up from its IPO price.
US-headquartered content discovery software provider Outbrain has gone public in a $160m initial public offering representing an exit for publisher Gruner + Jahr and quantitative trading firm Susquehanna International Group (SIG).
The offering consisted of 8 million shares priced at $20.00 each, below the IPO’s $24 to $26 range. Hedge fund manager The Baupost Group indicated interest in buying 9.9% of the shares in the offering but has not confirmed whether it followed through.
The company floated on the…
