ICx Raises $80 Million in Market Debut

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ICx’s timing of its IPO on a week when the US stock markets declined may have hurt the stock’s initial performance. The stock’s decline might also indicate the an unfavorable view of this sector.

Arlington, Virginia 11/7/07—Security technologies company ICx Technologies completed its IPO to raise $80 million (see IBO 8/15/07). The company sold five million shares of common stock on the NASDAQ stock exchange at $16 per share. Earlier this month, the company had forecasted a price of $17–$19 per share. Shares fell 19% in their first week of trading.

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