Ubiquiti Networks (UBNT) IPO Prices at $15, Low End of Range

October 14, 2011 8:50 AM EDT
Ubiquiti Networks, Inc. (Nasdaq: UBNT) priced its initial public offering of 7,038,230 shares of common stock at a price to the public of $15.00 per share, the low end of the expected $15.00-$17.00 range. Shares will open on the NASDAQ today under the under the ticker symbol "UBNT."

UBS Securities LLC, Deutsche Bank Securities Inc. and Raymond James & Associates, Inc. are acting as joint book-running managers for the offering. Pacific Crest Securities LLC and ThinkEquity LLC are acting as co-managers.

Ubiquiti Networks is a product driven company that leverages innovative proprietary technologies to deliver wireless networking solutions with compelling price-performance characteristics to both start-up and established network operators and service providers.

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