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Box, Inc. (BOX) IPO Opens Up 44%

January 23, 2015 10:05 AM EST

Today's IPO for Box, Inc. (NYSE: BOX) opened or trading at $20.20 after pricing 12,500,000 shares of its Class A common stock at a price to the public of $14 per share, above the expected $11-$13 range.

Box has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of Class A common stock to cover over-allotments, if any.

Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering, BMO Capital Markets Corp. is acting as lead manager, and Canaccord Genuity Inc., Pacific Crest Securities LLC, Raymond James & Associates, Inc. and Wells Fargo Securities, LLC are acting as co-managers.

Box provides a cloud-based, mobile-optimized Enterprise Content Collaboration platform that enables organizations of all sizes to easily and securely manage their content and collaborate internally and externally. The company's platform combines powerful, elegant and easy-to-use functionality that is designed for users with the security, scalability and administrative controls required by IT departments. The company has built its platform to enable users to get their work done regardless of file format, application environment, operating system, device or location. Paying business customers include more than 48% of Fortune 500 companies and more than 22% of Global 2000 companies, and the company's over 32 million registered users include employees from 99% of Fortune 500 companies, including companies in highly regulated industries such as healthcare and life sciences, telecommunications, energy and financial services



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