Credit: Shutterstock photoArlo Technologies, a smart security camera maker being spun out of Netgear, announced terms for its IPO on Monday.
The San Jose, CA-based company plans to raise $194 million by offering 10.2 million shares at a price range of $18 to $20. At the midpoint of the proposed range, Arlo Technologies would command a fully diluted market value of $1.4 billion.
Arlo Technologies was founded in 2014 and booked $409 million in revenue for the 12 months ended March 31, 2018. It plans to list on the NYSE under the symbol ARLO. BofA Merrill Lynch, Deutsche Bank and Guggenheim Securities are the joint bookrunners on the deal. It is expected to price during the week of July 30, 2018.
The article Netgear smart security spin-off Arlo Technologies sets terms for $194 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
