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Provider: Reuters Investment Profile

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Silver Spring Networks Inc Announces Closing of Initial Public Offering

Monday, 18 Mar 2013 

Silver Spring Networks Inc announced the closing of its previously announced initial public offering of 5,462,500 shares of common stock at a price to the public of $17.00 per share, which included 712,500 shares of common stock issued upon the exercise in full of the underwriters` option to purchase additional shares to cover over-allotments. All of the shares sold in the offering were sold by Silver Spring Networks. The shares began trading on The New York Stock Exchange on March 13, 2013 under the symbol SSNI. Goldman, Sachs & Co. and Credit Suisse Securities (USA) LLC acted as joint book-running managers for the offering and Stifel, Nicolaus & Company, Incorporated, Piper Jaffray & Co., Canaccord Genuity Inc., Evercore Group L.L.C., Pacific Crest Securities LLC and Robert W. Baird & Co. acted as co-managers.