Home automation company Control4 shares make trading debut

Shares of Control4 Corp., a Salt Lake City-based company that provides home automation systems, made their trading debut on the Nasdaq stock market Friday morning.

The company, which was founded in 2003 and has automated more than 120,000 homes since then, sold 4 million shares of its stock for $16 each, raising $64 million.

At the close of trading Friday, the company’s shares were $20.05, up $4.05 (25.31 percent) per share for the day.

In midday trading, the company’s shares were up $3.40 over their initial offering price, or 21.25 percent.

"This is one important day of many more to come," said Martin Plaehn, Control4’s president and chief executive. "There are tens of millions of families that can benefit from our technology and our goal is to connect the devices in those homes so they can all work together and improve people’s lives."

Comments (0)

This post does not have any comments. Be the first to leave a comment below.

Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

VMP ERWEN-6E 19-inch wall rack enclosure

VMP ERWEN-6E 19-inch wall rack enclosure

The effective and rugged ERWEN-6E 19-inch wall rack enclosure has been designed for getting equipment up off the floor and on the wall where space is at a premium and floor standing equipment racks just won't do. VMP designed the ERWEN Series wall mounted racks for both form and functionality, especially with the security and AV installer in mind. With adjustable front and rear rails, removable hinged back panel, and a reversible glass front door, the ERWEN-6E is the answer to the most demanding rack mount requirements. Additional features of the ERWEN-6E wall rack enclosure include welded steel construction, ships fully assembled, works with all standard 19-inch rack equipment and accessories, 16 inches of usable depth, rails have numbered spaces with standard 10-32 threading, vented top and bottom, top and bottom cable routing knockouts, removable side panels (with optional locks), load capacity - 120 lbs, black powder coat finish, 2-fan kit (ERWEN2FANKIT; optional), product dimensions: (W x D x H): 24.3in x 21.9in x 14.5in, product weight: 50 lbs.