Home automation company Control4 sets terms for $64 million IPO
Control4, which is leading provider of in-home automation and control solutions, announced terms for its IPO on Monday. The Salt Lake City, UT-based company plans to raise $64 million by offering 4.0 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Control4 would command a fully diluted market value of $404 million.
Control4, which was founded in 2003 and booked $113 million in sales for the 12 months ended March 31, 2013, plans to list on the NASDAQ under the symbol CTRL. Control4 initially filed confidentially on February 1, 2013. BofA Merrill Lynch and Raymond James are the joint bookrunners on the deal.