Palo Alto Networks, Inc., in a filing, said it is offering 4.69 million shares of its common stock and the selling stockholders are offering 1.51 million shares. Palo Alto said it will not receive any proceeds from the sale of shares by the selling stockholders. The company anticipates the initial public offering price to be between $34.00 and $37.00 per share.
Palo Alto Networks has applied to list its common stock on the New York Stock Exchange under the symbol "PANW."
The company granted the underwriters the right to purchase up to an additional 930 thousand shares of common stock to cover over-allotments.
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by RTT Staff Writer
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