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Ruckus Wireless Closes IPO Day At $12.25 Per Share, 18% Below IPO Price

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http://techcrunch.com – Wi-Fi equipment maker Ruckus Wireless held an initial public offering on the New York Stock Exchange this morning at a share price of $15. It raised $126 million. While it was a nice move for the company, as well as its venture capital investors (Sequoia Capital, Sutter Hill Ventures and others had provided some $54 million in funding for the eight-year-old company), its reception on the stock market on its first day of trading was lackluster. The stock fell about 8 percent in its debut as investors felt the wireless service provider was a bit expensive, considering the lackluster IPO market. (IT news)