Investors took a cautious approach to transit software startup Via’s IPO on Friday, with shares opening below the company’s IPO price before recovering at end the day slightly higher.

The company, which initially filed confidentially for IPO in July, priced its IPO at $46 per share, raising $492.9 million. Those shares slipped to $44 when the stock began trading Friday afternoon, and then inched back into the green to finish at just over $49. The modest gain values Via at roughly $3.9 billion at the close of its first trading day.

Via raised about $328 million in its IPO, while existing shareholders sold another $164 million worth of stock, bringing the total deal size to nearly $493 million.

“We’re extremely pleased with the result of today’s IPO, and we think it is a testament to the

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