Dive Summary:
- Silver Spring Networks is expected to start selling shares on the New York Stock Exchange as soon as Wednesday.
- Silver Spring Networks first filed for an IPO in 2011; the company plans on selling 3.7 million shares at $16-$18 per share, which would approximately bring in $63 million.
- Silver Spring Networks currently provides smart meters and wireless networking solutions to utilities but is looking to also sell software and services to boost low profit margins.
From the article:
"... That’s a pretty modest IPO for the decade-old company, and is less than half of the maximum that Silver Spring originally planned to raise a year and a half ago. If Silver Spring does go public Wednesday morning, expect it to price its shares late in the day on Tuesday. Along with the IPO, longtime investor Foundation Capital also plans to purchase $12 million worth of stock at the IPO price in a private placement. ..."
