Initial Public Offering
Baird served as a senior co-manager in this offering.
AboutMeru Networks, Inc. (NASDAQ: MERU) recently announced the pricing of its initial public offering of 5,044,801 shares of common stock at $15.00 per share, at the top of its expected range of $13.00 - $15.00 per share, generating gross proceeds of $75.7 million for the Company and selling shareholders. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes, including further expansion of sales and marketing efforts, research and development investment and capital expenditures. Meru offered 4,233,017 shares of common stock which included 658,017 shares from the over-allotment option. Selling shareholders, primarily led by Vision Capital Advisors, offered the remaining 811,784 shares in the offering.
Meru Networks provides a virtualized wireless LAN solution that cost-effectively optimizes the enterprise network to deliver the performance, reliability, predictability and operational simplicity of a wired network, with the advantages of mobility. Meru's solution represents an innovative approach to wireless networking that utilizes virtualization technology to create an intelligent and self-monitoring wireless network, and enables enterprises to migrate their business-critical applications from wired networks to wireless networks, and become all-wireless enterprises. Meru's solutions have been adopted in all major industry vertical markets, including Fortune 500 enterprises, healthcare, education, retail, manufacturing, hospitality and government. Meru is headquartered in Sunnyvale, California, and has operations around the world.
The Baird team included our dedicated industry bankers and members of our Equity Capital Markets group.
For additional information about this transaction, please contact:
- March 2010
- Meru Networks, Inc.
- Technology & Services
- Target Location
- North America
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