Goldman Sachs, BofA, Piper Jaffray, William Blair and JMP will assist
By Devika Patel
Knoxville, Tenn., March 28 - Aerohive Networks, Inc. said it priced its $75 million initial public offering of stock with an $11.25 million greenshoe. The deal was announced Feb. 13.
The company will sell 7.5 million common shares at $10.00 per share.
Goldman Sachs & Co. and BofA Merrill Lynch are the joint bookrunning managers.
Proceeds will be used for general corporate purposes, including working capital, sales and marketing, research and development, general and administrative matters and capital expenditures.
The Sunnyvale, Calif., company has developed a cloud-managed mobile networking platform. The company intends to list its common stock on the New York Stock Exchange under the symbol "HIVE."
| Issuer: | Aerohive Networks, Inc.
|
| Issue: | Common stock
|
| Amount: | $75 million
|
| Greenshoe: | $11.25 million
|
| Shares: | 7.5 million
|
| Price: | $10.00
|
| Warrants: | No
|
| Bookrunners: | Goldman Sachs & Co. and BofA Merrill Lynch
|
| Co-managers: | Piper Jaffray & Co., William Blair & Co., LLC, JMP Securities LLC, Stephens Inc.
|
| Announcement date: | Feb. 13
|
| Pricing date: | March 28
|
| Stock exchange: | NYSE: HIVE
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
