Dive Summary:
- Silver Spring Networks' expected IPO managed to raise $81 million as 4.75 million shares sold for $17 each and 3.71 million shares went for $16 to $18 each, Bloomberg reports.
- Regulatory filings show that Silver Spring's revenue declined 17% to $196.7 million last year compared to the previous year.
- The energy hardware and software provider, which was founded in 2002, filed for a $150 million IPO in July of last year and will be listed on the New York Stock Exchange as SSNI.
From the article:
"... The company, which filed for a $150 million IPO last July, planned to sell all of the shares, according to the original terms of the prospectus, and to raise an additional $12 million in a private placement to its biggest shareholder, Foundation Capital. ..."
