SolarWinds prices IPO

Update on May 19, 2009:

SolarWinds, Inc., a US-based provider of enterprise software, has priced its initial public offering (IPO) of 12.11 million shares of its common stock at $12.5 per share to raise gross proceeds of approximately $151.25 million.

SolarWinds is offering 9 million shares of common stock and selling stockholders are offering the remaining 3.11 million shares in the offering.

The underwriters have a 30-day option to purchase up to an additional 1.81 million shares from the selling stockholders to cover over-allotments, if any.

Update on May 1, 2009:

SolarWinds is planning an IPO of 12.1 million shares of the common stock for the total proceeds of approximately $127 million. The estimated IPO price is between $9.5 and $11.5 per share.

Announcement (March 21, 2008):

SolarWinds has filed a registration statement with the Securities and Exchange Commission (SEC) to raise approximately $250 million in an IPO.

The company intends to list its common stock on the New York Stock Exchange under the symbol 'SWI'.

J.P. Morgan Securities, Inc., Goldman, Sachs & Co., and Lehman Brothers, Inc. are acting as joint book-running managers to the offering. UBS Securities LLC and Thomas Weisel Partners LLC are acting as underwriters to the offering. Jefferies & Company, Inc., Thomas Weisel Partners LLC, and Ladenburg Thalmann & Co., Inc. are acting as co-managers of the offering.

Deal Value (US$ Million) 151.25
Deal Type                IPO
Sub-Category             Pricing
Deal Status              Announced: 2008-03-21

Deal Participants

Target (Company) SolarWinds, Inc.

Deal Rationale

SolarWinds intends to use a portion of the net proceeds from this offering to repay the $102.5 million of long-term borrowings outstanding under its December 2005 credit facilities and to pay an earnout payment of up to $20 million. The company intends to use the remaining net proceeds for working capital and general corporate purposes.

Offer Price ($ per share) 12.5

Related terms: corporate, ipo, prices, public offering, sec, securities