Thursday, July 19, 2012

Palo Alto Networks Prices IPO

Santa Clara-based Palo Alto Networks has priced its IPO, at $42.00 per share, and expects to list on the NYSE as PANW tomorrow. The pricing is above the firm's recently increased, estimated pricing range, which was upped to between $38.00 and $40.00 per share on Wednesday, up from an earlier estimate of $34.00 to $37.00 per share. The firm's underwriters are Morgan Stanley & Co., Goldman, Sachs & Co, Citigroup, as well as Credit Suisse, Barclays, UBS Securities LLC, and Raymond James & Associates. The firm is backed by Greylock Partners, Sequoia Partners, and Globespan.