Networking software and hardware provider Cyan sets terms for $88 million IPO

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Cyan, which provides next generation packet-optical transport systems for software-defined networks (SDNs), announced terms for its IPO on Thursday. The Petaluma, CA-based company plans to raise $88 million by offering 8 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Cyan would command a fully diluted market value of $586 million. 

Cyan, which was founded in 2006 and booked $108 million in sales for the 12 months ended 3/31/2013, plans to list on the NYSE under the symbol CYNI. Cyan initially filed confidentially on 12/20/2012. Goldman Sachs, J.P. Morgan and Jefferies & Co. are the joint bookrunners on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: CYNI

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