(Adds details, market capitalization)
Jan 22 ArcSight Inc, a provider of security and
compliance management software, registered its initial public
offering of 6.9 million shares at an estimated price of $9 to
$11 per share.
In an amended filing with the U.S Securities and Exchange
Commission, the company said it plans to sell 6 million shares,
while stockholders will sell an additional 861,919 shares.
Net proceeds, assuming an initial public offering price of
$10 per share, is expected to be about $51.9 million, which the
company will use for general corporate purposes, including
working capital and potential acquisitions.
Its initial market capitalization based on the mid point of
the offer price range would be about $309.4 million, with about
30.9 million shares outstanding after the offering.
Underwriters of the offering are Morgan Stanley & Co,
Lehman Brothers Inc, Wachovia Capital Markets and RBC Capital
For the year ended April 30, 2007, the company posted a
loss of $257,000 on total revenue of $69.8 million.
The Cupertino, California-based company said it applied for
a Nasdaq listing under the symbol "ARST."
(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by