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."
LG Electronics USA is bypassing the specialty CE channel to give Best Buy's Magnolia stores a jump on selling its new CURVED OLED 55-inch TVs. LG launched the set at the Magnolia Design Center in Best Buy's flagship Richfield, Minn., store on Monday.
James Fishler , senior vice president marketing LG Electronics USA, said the OLED TVs will be available to specialty dealers "in a couple of months." He would not provide a specific timeframe or say which dealers would have access to the sets. The Magnolia stores, he said, are one of the best venues for LG to introduce its new TV technologies.
"It's hard for manufacturers to get credit for enhancements in picture quality," Fishler told Dealerscope before the unveiling of the CURVED OLED TV at the Richfield Best Buy. "That's why we decided to partner with Magnolia, because they have the staff that can help explain it and simply showcase it."
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