Ruckus Wireless, Inc. has announced the pricing of its initial public offering of 8 400 000 shares of its common stock at a price to the public of $15.00 per share. Of the 8 400 000 shares, 7 000 000 shares are being offered by Ruckus Wireless and 1 400 000 shares are being offered by certain selling stockholders.
In addition, the selling stockholders have granted the underwriters a 30 day option to purchase up to an additional 1 260 000 shares. Ruckus Wireless will not receive any proceeds from the sale of shares by the selling stockholders. The shares were expected to begin trading on the New York Stock Exchange on 16 November 2012 under the symbol RKUS.
Goldman, Sachs & Co. and Morgan Stanley & Co. LLC are acting as lead joint book-running managers for the offering. Deutsche Bank Securities is acting as a book-running manager. Needham & Company, Oppenheimer & Co., William Blair, and Craig-Hallum Capital Group are acting as co-managers. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on 15 November 2012.
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