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Gigamon LLC Sees 6.75 Million-Share IPO Pricing At $18 To $20 Each-DJ

Wednesday, 29 May 2013 06:04pm EDT 

Dow Jones reported that Gigamon LLC expects its Initial Public Offering of 6.75 million shares to price between $18 and $20 a piece. The Company is offering 4.5 million shares, while selling stockholders are offering an additional 2.25 million shares. The Company expects to receive proceeds of about $75.6 million from the shares it is selling, and won't receive any proceeds from the sale by stockholders. The Company will use proceeds it receives to satisfy employees' performance-based compensation obligations as well as for working capital and other general corporate purposes. Gigamon might also use a portion of the proceeds to acquire or invest in complementary businesses, products, services, technologies or other assets, it said. The company first filed plans for the IPO in July, saying it wanted to raise as much as $100 million for working capital and other general purposes. The stock has been approved to trade under the symbol GIMO on the New York Stock Exchange. 

Company Quote

-0.06 -0.49%
11 Jul 2014