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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

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