Aerohive Networks has launched its IPO of 7.5 million shares after pricing it at $10 per share. The stock began trading Friday on the NYSE under the ticker symbol “HIVE.” Goldman Sachs and BofA Merrill Lynch are serving as lead underwriters. Based in Sunnyvale, Calif., Aerohive Networks is a provider of enterprise Wi-Fi solutions. Its backers include Northern Light Venture Capital, Lightspeed Venture Partners, Kleiner Perkins Caufield & Byers, Four Rivers Group, Institutional Venture Partners and New Enterprise Associates.
SUNNYVALE, Calif.–(BUSINESS WIRE)–Aerohive Networks, Inc. announced today the pricing of its initial public offering of 7,500,000 shares of its common stock at a price to the public of $10 per share. In addition, Aerohive has granted the underwriters a 30-day option to purchase up to 1,125,000 additional shares of common stock from Aerohive at the initial public offering price. The shares are expected to begin trading on the New York Stock Exchange on March 28, 2014 under the symbol “HIVE.”
Goldman, Sachs & Co. and BofA Merrill Lynch are acting as joint book-running managers for the offering. Piper Jaffray & Co., William Blair & Company, LLC, JMP Securities LLC and Stephens Inc. are acting as co-managers for the offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on March 27, 2014. The offering will be made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained, when available, from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by e-mail at firstname.lastname@example.org; or from BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, New York, NY 10038, or by email at email@example.com.