Local Tech Wire

RESEARCH TRIANGLE PARK, N.C. – , the venture-backed startup that bolted to the state of Washington from Durham, finally went public on Thursday.

However, the provider of data and other services to mobile telecommunications firms, sold fewer shares than expected – and at a lower price.

According to Bloomberg and Reuters, Motricity sold 5 million instead of 6.75 million shares.

The shares sold for $10 after Motricity hoped to sell at between $10 and $11.

The lack of stock sales at a lower price came despite a disclosure by Motricity in an SEC filing that billionaire Carl Icahn, a Motricity investor, wanted 1 million shares. Icahn already owned 18.5 percent of the company.

Motricity had already cut the price of the IPO offering from a range of $14 to $16. (

Bloomberg and Reuters sited various sources for the report.

Now based in Bellevue, Wash., Motricity is scheduled to trade on the Nasdaq under the symbol MOTR.

Bloomberg cited data it compiled as a source for its report. Reuters said its information came from an underwriter.

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