Liftoff Mobile Inc. pulled in $437 million from investors in its US initial public offering, pricing shares above the range it had marketed to Wall Street. The mobile advertising technology firm, backed by private equity giant Blackstone, managed to generate strong demand despite a choppy environment for new listings.

The successful pricing marks a notable turnaround for the company, which is now completing its second attempt at going public in 2024. That Liftoff returned to the market so quickly after an earlier effort suggests management felt confident that investor appetite had improved enough to secure a favorable valuation.

Pricing above the marketed range indicates institutional buyers showed real interest in the deal, a positive signal for other venture-backed companies watching from the sidelines. The IPO market has been selective this year, with investors favoring profitable or near-profitable businesses over growth-at-all-costs stories.

For Blackstone, the offering represents a chance to monetize a portfolio investment after holding it through a difficult period for ad-tech valuations. The $437 million raised gives Liftoff a public currency and fresh capital, though the real test begins when shares start trading on the open market.