Wednesday, March 13, 2013

Silver Spring Networks Surges On Debut

Redwood City-based smart grid technology provider Silver Spring Networks debuted on the public markets this morning, surging as much as 24% in morning trading on the New York Stock Exchange. The firm debuted under the symbols SSNI, pricing at $17.00 per share, and opening at $22.00 in morning trading. The company is venture backed by Foundation Capital, Kleiner Perkins Caufield & Byers, along with others. The IPO is being run by Morgan Stanley, Goldman, Sachs & Co., Credit Suisse, Jeffries, Piper Jaffray, Stifel Nicolaus Weisel, Baird, Canaccord Genuity, Evercore Partners, and Pacific Crest Securities.