Fortinet (FTNT) IPO Prices at $12.50, Above Expected $9-$11 Range
Fortinet (NASDAQ: FTNT) announced its initial public offering of 12,500,000 shares of its common stock at a price to the public of $12.50 per share, above the expected $9-$11 range. Shares will begin trading today on the NASDAQ under the ticker symbol "FTNT."
Of the shares in the offering, 5,781,683 shares are being offered by the company and 6,718,317 shares are being offering by selling stockholders.
Morgan Stanley & Co. Incorporated, J.P. Morgan Securities Inc., and Deutsche Bank Securities Inc. are acting as joint book-runners for the offering. Robert W. Baird & Co. Incorporated, RBC Capital Markets Corporation, ThinkEquity LLC, JMP Securities LLC, and Signal Hill Capital Group LLC are acting as co-managers.
Fortinet is a worldwide provider of network security and unified threat management (UTM) solutions.
Of the shares in the offering, 5,781,683 shares are being offered by the company and 6,718,317 shares are being offering by selling stockholders.
Morgan Stanley & Co. Incorporated, J.P. Morgan Securities Inc., and Deutsche Bank Securities Inc. are acting as joint book-runners for the offering. Robert W. Baird & Co. Incorporated, RBC Capital Markets Corporation, ThinkEquity LLC, JMP Securities LLC, and Signal Hill Capital Group LLC are acting as co-managers.
Fortinet is a worldwide provider of network security and unified threat management (UTM) solutions.
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