Silver Spring Networks sets terms for $63 million IPO

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Silver Spring Networks, which provides smart grid products and services, announced terms for its IPO on Tuesday. The Redwood City, CA-based company plans to raise $63 million by offering 3.7 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Silver Spring Networks would command a fully diluted market value of $789 million.

Silver Spring Networks, which was founded in 2002 and booked $197 million in sales for the 12 months ended 12/31/2012, plans to list on the NYSE under the symbol SSNI. Goldman Sachs and Credit Suisse 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: SSNI

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