Key Developments: Meru Networks Inc (MERU.W)
3.40USD
22 May 2013
$-0.16 (-4.49%)
$3.56
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Latest Key Developments (Source: Significant Developments)
Meru Networks Inc Announces Pricing Of Public Offering Of Common Stock
Meru Networks Inc announced the pricing of an underwritten public offering of 3,000,000 shares of common stock at a purchase price of $4.00 per share. Gross proceeds, before deducting the underwriting discounts and commissions and offering expenses payable by Meru, are expected to be approximately $12 million. The offering is expected to close on or about March 4, 2013. Meru has granted the underwriter a 30-day option to purchase up to 450,000 additional shares of common stock to cover overallotments. Directors and executive officers of Meru Networks will purchase shares from the underwriters at the public offering price. William Blair & Company, L.L.C. is acting as the sole book-running manager of the public offering. Full Article
Meru Networks Inc Proposes Public Offering of Common Stock
Meru Networks Inc announced that it commenced a public offering of its common stock. Meru expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering solely to cover over allotments, if any. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. William Blair & Company, L.L.C. is acting as the sole underwriter. Full Article
Genesis Hospitality Group Deploys Meru Networks Inc's Access Solutions
Meru Networks Inc announced that Genesis Hospitality Group has deployed Meru Networks` access solutions to connect guests and business event attendees at its six properties in central Canada to the Internet. Full Article
Meru Networks Inc Issues FY 2013 Revenue Guidance Above Analysts' Estimates; Issues Q1 2013 Revenue Guidance In Line With Analysts' Estimates-Conference Call
Meru Networks Inc announced that for fiscal 2013, it expects revenues in the range of $110 million to $120 million. For first quarter of 2013, it expects revenue in the range of $23 million to $25 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $109 million for fiscal 2013; revenue of $24 million for first quarter of 2013. Full Article
Meru Networks Inc Announces $12 Million Growth Capital Debt Financing
Meru Networks Inc announced that it has received a $12 million growth capital debt financing from Western Technology Investment(WTI),a leading technology investment firm which has backed companies such as 3PAR, Facebook, Google, and Juniper Networks. The financing is structured such that $12 million will be funded immediately, and will amortize over a 39-month period. Full Article
Meru Networks Inc Issues Q2 2012 Revenue Guidance In Line With Analysts' Estimates-Conference Call
Meru Networks Inc announced that it currently expects second quarter 2012 revenues will be in the range of $20 million to $22 million, including ratable revenue of approximately $40,000. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $22 million for the second quarter 2012 . Full Article
Meru Networks Inc Lowers Q1 2012 Revenue Guidance-Conference Call
Meru Networks Inc announced that for the first quarter of 2012, it expects revenue in the range of $19-$19.5 million. According to I/B/E/S Estimates analysts on an average are expecting the Company to report revenue of $19.6 million for the first quarter of 2012. Full Article
Meru Networks Inc Appoints Bami Bastani New President And Chief Executive Officer
Meru Networks Inc announced that its board of directors has appointed Bami Bastani, Ph. D., as president and Chief Executive Officer, effective immediately. Full Article
Meru Networks Inc And Wavelink Team Up To Bring Virtualized WLAN Solutions To Australian Enterprises
Meru Networks Inc and Wavelink announced expansion plans in the Australian region with the addition of a dedicated team of Meru technical sales professionals comprising territory account managers and sales engineers. Meru and Wavelink will bring Meru's advanced wireless solutions, easy to deploy and manage, to enterprises that are attempting to support the thousands of devices that are flooding their enterprises. The team will focus on target markets including education, healthcare, enterprise, government and hospitality. The team will work with end-customers in the design and implementation of Meru virtualized wireless WLANs that give IT managers an important degree of choice in deploying their mobility infrastructure. Wavelink's existing resellers located in Melbourne and Sydney will co-sell Meru WLAN solutions and lead network implementations in the K-12, healthcare, hospitality and enterprise markets. In addition, Wavelink will extend engineering and inside sales support out of the Sydney office. Full Article
Meru Networks Inc Issues Q1 2012 Guidance; Earnings Guidance Below Analysts' Estimates-Conference Call
Meru Networks Inc announced that for first quarter of 2012, it expects revenue to be in the range of $21-$23 million and non-GAAP net loss of $8 million to $9 million or $0.45 to $0.51 per share (EPS). According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $23 million and net income of $(7) million and EPS of $(0.40) for first quarter of 2012. Full Article
Earnings vs. 
Estimates
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