Follow-On Offering

Technology & Services
Follow-On Offering

Summary

Baird served as passive bookrunner on this offering

About

Bandwidth Inc. (“Bandwidth”) (NASDAQ: BAND) recently completed a follow-on offering of 2,500,000 shares of its Class A common stock at a price of $54.25 per share, generating gross proceeds of approximately $135.6 million. The offering was upsized from the previously announced offering size of 2,250,000 shares of Class A common stock. The underwriters in the offering will have a 30-day option to purchase up to an additional 375,000 shares of Class A common stock. Bandwidth intends to use the net proceeds from the offering for general corporate purposes.

Bandwidth is a software company focused on communications for the enterprise. Companies like Google, Microsoft, and Ring Central use Bandwidth's APIs to easily embed voice, messaging and 9-1-1 access into software and applications. Bandwidth is the first and only CPaaS provider offering a robust selection of communications APIs built around their own nationwide IP voice network - one of the largest in the nation. Bandwidth is headquartered in Raleigh, North Carolina.
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Technology & Services
Follow-On Offering
Date
March 2019
Company
Bandwidth Inc.
Transaction
M&A
Sectors
Technology & Services
Target Location
North America

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