Opower has filed for an IPO. The number of shares that will be sold as well as the pricing terms of the offering have yet to be set. Opower will trade its stock on the NYSE under the ticker symbol “OPWR.” Morgan Stanley and Goldman Sachs will serve as lead underwriters. Headquartered in Arlington, Virginia, Opower is a provider of cloud solutions for the utility sector. Its backers include New Cycle Capital, NEA, Accel Partners and Kleiner Perkins Caufield & Byers.
Arlington, VA – March 3, 2014 – Opower, a leading provider of cloud-based software to the utility industry, today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The number of shares to be sold and the price range for the proposed offering have not yet been determined. Opower plans to list its common stock on the New York Stock Exchange under the ticker symbol “OPWR.”
Morgan Stanley & Co. LLC and Goldman, Sachs & Co. will act as lead book-running managers for the proposed offering. Allen & Company LLC, Pacific Crest Securities LLC, Canaccord Genuity Inc. and Cowen and Company, LLC will act as co-managers.
The offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained, when available, from Morgan Stanley & Co. LLC at 180 Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department, or by calling (866) 718-1649, or by emailing email@example.com, or from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, or email: firstname.lastname@example.org.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.