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SALT LAKE CITY - FatPipe, Inc., a provider of enterprise-class, secure software-defined wide area network (SD-WAN) solutions, has set the pricing for its initial public offering (IPO) at $5.75 per share. The company, currently valued at $92.93 million, announced that its common stock would begin trading on the Nasdaq Capital Market under the ticker symbol "FATN" on Tuesday.
The offering consists of 695,656 shares, and the company anticipates aggregate gross proceeds of approximately $4 million, before underwriting discounts and expenses. FatPipe has also granted the underwriters a 45-day option to purchase up to an additional 104,348 shares at the IPO price, less the underwriting discount.
The closing of the IPO is expected to occur around Wednesday, subject to customary closing conditions. D. Boral Capital LLC is serving as the sole book-running manager for the offering.
FatPipe specializes in SD-WAN solutions that are designed to optimize network performance and provide robust cybersecurity and SASE (Secure Access Service Edge) protection for a variety of organizations, including enterprises, communication service providers, government entities, and mid-market firms. The company's technology aims to ensure business continuity and secure data transmission across wide area networks, with additional features such as network monitoring, reporting, and alerting. InvestingPro analysis reveals the company maintains a healthy current ratio of 2.27 and has received a "GREAT" overall financial health score. Get access to additional ProTips and detailed financial metrics with an InvestingPro subscription.
The offering is made by means of a prospectus, which is a part of the company's registration statement filed with the U.S. Securities and Exchange Commission (SEC) and declared effective on March 17, 2025. Potential investors can obtain copies of the final prospectus from the SEC's website or directly from D. Boral Capital LLC.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, and there will be no sale of these securities in any jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
The information in this article is based on a press release statement from FatPipe, Inc.
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