initial public offerings (IPOs) trading on American exchanges

Monday, June 20, 2011

Ubiquiti Networks files to raise up to $200M in IPO

Ubiquiti Networks Inc. filed plans with the U.S. Securities and Exchange Commission to raise up to $200 million in an initial public offering.

The broadband wireless technology company did not disclose pricing, how many shares it plans to offer, or details of the IPO timing. Net proceeds are to be used for working capital and general corporate purposes.

The San Jose-based company is looking to list its common stock on the NASDAQ Global Market under the ticker symbol "UBNT."

It had $31.6 million in net income for nine months ending March 31, 2011, on $130.3 million in revenue, according to the filing. It reported a loss of $14.8 million on $96.7 million in revenue in the same period the year before.

Palo Alto-based growth equity firm Summit Partners LP has a pre-IPO stake of 37 percent in the company.
Underwriters include UBS Securities LLC, a subsidiary of Switzerland's UBS AG(NYSE:UBS) and Raymond James & Associates Inc. (NYSE:RJF).

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