- Update (May 6, 2015) : Borderfree (BRDR) was acquired by Pitney Bowes (PBI) for for $14.00 per share or $395 million in 2015.
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Borderfree Inc. (Nasdaq: BRDR) raised a gross $80 million in an issue of five million shares at $16 per share - the upper end of its offer - at a company value of $488 million, after money. The share price rose 25% in its first day of trading on Friday to $20, giving a market cap of $610 million.
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The IPO's biggest beneficiaries are Borderfree's investors, beginning with Pitango Venture Capital. The IPO reduced its stake in the company from 32.8% to 27.4%, worth $167 million. In second place is Adam Street Partners, which saw its stake narrow to 18.1%, worth $110.5 million.
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