logo
Share SHARE
FONT-SIZE Plus   Neg

Proofpoint Prices IPO At $13/Share, Above Estimated Range

Proofpoint Inc. (PFPT), a pioneering provider of cloud-based security and compliance solutions for enterprise messaging and collaboration, announced the pricing of initial public offering of 6.33 million shares of its common stock at $13.00 per share, above its estimated offering price range.

Of the shares of common stock in the offering, Proofpoint is offering 5.13 million shares of common stock and selling stockholders are offering 1.2 million shares of common stock.

In an amended regulatory filing with the U.S. Securities and Exchange Commission on April 9, the company had expected to price the initial public offering of 6.2 million common shares between $10 and $12 per share.

Sunnyvale, California based company shares are expected to begin trading on The Nasdaq Global Market on April 20, 2012 under the symbol "PFPT."

In addition, Proofpoint and the selling stockholders have granted the underwriters a 30-day option to buy up to 770 thousand additional shares of common stock to cover over-allotments, if any.

Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are serving as joint book runners for the offering. RBC Capital Markets LLC, Pacific Crest Securities LLC and First Analysis Securities Corp. are acting as co-managers.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Senate Republicans appear poised to approve a budget resolution that will serve as the legislative vehicle for their tax reform plan. The non-binding budget resolution unlocks the reconciliation process, allowing Republicans to pass their tax reform plan with a simple 51-vote majority in the Senate. President Donald Trump intends to nominate antitrust attorney Joseph Simons as chairman of the Federal Trade Commission, the White House announced on Thursday. Simons, who served as an FTC official under President George W. Bush, is currently a partner and co-chair of the antitrust group at law firm Paul Weiss. Less than four months after its debut on the New York Stock Exchange, Blue Apron Holdings Inc. said it is laying off 6 percent of its workforce. In a regulatory filing on Wednesday, the embattled meal-kit delivery company said it has implemented a company-wide realignment of personnel to support its strategic priorities.
comments powered by Disqus
Follow RTT