Rosseta Stone – known for its instructional CDs teaching people to speak different languages – sold 6.25 million shares of its stock today, April 16, 2009, raising $112.5 million.
Shares trade on the New York Stock Exchange under the symbol: RST.
Shares were up 44% today according to Reuters. The Initial Public Offering was priced at $18.00 but prices opened around $25.00 per share.
Not bad for a company going public in one of the worst bear markes in history.
Another success story and example of the huge potential of selling information products.
Based in Arlington, Virginia., the company was founded in 1991 and is run by 36 year old Tom P.H. Adams. Adams is Rosetta’s President, CEO, and Director.
According to SEC filings, Mr. Adams owns 506,000 shares of common stock and another 350,000 shares subject to stock options, making him a wealthy, infopreneur millionaire.
Rosetta was purchased from its founders in 2006 by private equity firms Norwest Equity Partners and ABS Capital Partners.