The company last week raised its pricing range to $18 to $20 a share from $14 to $16, and also increased the number of shares it was bringing to market to 7.5 million from 7 million.
The company, based in Mountain View, Calif., is set to begin trading today under the ticker "OPTV." Merrill Lynch is the lead underwriter. OpenTV will own approximately 83 percent of the company following the offerings.
The company provides software that enables digital interactive television--an industry that is believed to be on the cusp of taking off. OpenTV set-top box software has been installed in more than 4.5 million digital set-top boxes worldwide. To date, 22 network operators in 17 countries have selected OpenTV software as their interactive platform.
The company plans to use the net proceeds primarily to fund the development of its growing applications business, which lets networks and content providers offer enhanced programming, such as TV-enabled e-commerce and interactive advertising.
OpenTV may use a portion of the net proceeds for general corporate purposes and to make possible strategic acquisitions and investments.
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