Friday, April 26, 2013

CYAN Sets Estimated IPO Range

Petaluma-based carrier-grade, optical networking equipment maker CYAN set its initial estimated IPO range Thursday, saying that it will offer up 8,000,000 shares of its common stock at between $10.00 and $12.00 per share. The firm's IPO is being underwritten by Goldman, Sachs & Co., J.P. Morgan, Jefferies, and Pacific Crest Securities. CYAN is venture backed by Norwest Venture Partners, Azure Capital, Tenaya Capital, Focus Ventures, Meritech Capital Partners, and others.