Arlo Technologies Inc. (ARL) Prices 10.215M Share IPO at $16/Sh

NETGEAR, Inc. (NASDAQ: NTGR) and Arlo Technologies, Inc. (NYSE: ARLO), a subsidiary of NETGEAR, today announced the pricing of Arlo's initial public offering ("IPO") of 10,215,000 shares of Arlo's common stock at a price to the public of $16.00 per share. The New York Stock Exchange has conditionally approved the listing of the common stock shares. The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "ARLO" on August 3, 2018, and the IPO is expected to close on or about August 7, 2018, subject to customary closing conditions.

In addition, the underwriters will have a 30-day option to purchase an additional 1,532,250 shares of common stock at the initial public offering price, less the underwriting discount and commissions.

BofA Merrill Lynch, Deutsche Bank Securities and Guggenheim Securities are acting as lead book-running managers for the offering. Raymond James, Cowen and Imperial Capital are acting as joint book-running managers for the offering.

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