Initial Public Offering
Baird served as a senior co-manager on the offering
AboutTeleNav, Inc. (NASDAQ: TNAV) recently announced the pricing of its initial public offering of 8,050,000 shares of common stock at $8.00 per share, generating gross proceeds of $64.4 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, and also may use a portion of the proceeds to acquire complementary businesses, products, services or technologies. TeleNav offered 6,550,000 shares of common stock and selling shareholders, primarily led by iGlobe Partners and Sycamore Venture Capital, offered the remaining 1,500,000 shares in the offering.
TeleNav, Inc. is a leading provider of location based services, or LBS, including voice guided navigation, on mobile phones. TeleNav’s LBS solutions provide consumers and enterprises with convenient and easy to use location specific, real time and personalized features and functions. TeleNav’s flexible and proprietary LBS platform enables it to efficiently provide its LBS to millions of end users, across more than 500 types of mobile phones, all major mobile phone operating systems and a broad range of wireless network protocols. TeleNav’s service providers include Alltel, AT&T, Bell Mobility, Boost Mobile, China Mobile, Cincinnati Bell, NII Holdings, Rogers, Sprint Nextel, T-Mobile UK, T-Mobile USA, Telcel, Telecom Italia Mobile, Verizon Wireless and Vivo Brazil. TeleNav is headquartered in Sunnyvale, California.
The Baird team included our dedicated industry bankers and members of our Equity Capital Markets group.
For additional information about this transaction, please contact:
- May 2010
- TeleNav, Inc.
- Technology & Services
- Target Geography
- North America
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