TechTarget announces pricing of IPO

Needham, Mass.—IT media company TechTarget Inc. Thursday announced the pricing of its initial public offering of 7.7 million shares of common stock at $13 a share.

The shares started trading on the NASDAQ Global Market Thursday morning under the trading symbol TTGT. The company intends to use proceeds of the offering to reduce its debt and develop new products.

Of the 7.7 million shares being sold in the offering, 6.4 million are being sold by TechTarget and almost 1.3 million are being sold by “certain selling stockholders,” TechTarget said.

—Matthew Schwartz