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

REPLACEMENT INTERCOM SYSTEM WITH BUILT-IN MP3 DISTRIBUTION

REPLACEMENT INTERCOM SYSTEM WITH BUILT-IN MP3 DISTRIBUTION

RETRO-M is designed to replace existing Home Intercom Systems and operate on existing 3 and 4 wire systems. BLUETOOTH you music by adding the BT-RECEIVER. No need to remove existing master wall housing, trim plates available to cover those large holes. The RETRO-M intercom unit has a built-in AM/FM radio. Plug in mp3 players such as iPod, iPhone, Zune or any other hand held player into the master and share your music with the entire family. Choose between two music sources; listen to the radio in one room and the mp3 in another room.