Key Developments: Silver Spring Networks Inc (SSNI.N)
27.39USD
1 Aug 2013
$0.28 (+1.03%)
$27.11
$27.17
$27.93
$26.74
36,014
38,294
$28.30
$15.37
Latest Key Developments (Source: Significant Developments)
Silver Spring Networks Inc Expands Smart City Infrastructure Platform Through New Collaboration With SELC
Silver Spring Networks Inc announced that it is expanding its Smart City infrastructure platform through a new collaboration with street lighting control pioneer SELC. Through this collaboration, the parties intend to integrate Silver Spring`s IPv6 networking platform with SELC`s street light control systems and jointly bring the combined solution to market globally. These enhanced capabilities enable operators to leverage a standards-based network infrastructure to reduce costs over manual street light monitoring, greatly extend the lifespan of existing high-pressure sodium (HPS) street lights, and establish an open networking platform for the future deployment and management of more efficient light-emitting diode (LED) lighting. Full Article
Silver Spring Networks Inc Announces Closing of Initial Public Offering
Silver Spring Networks Inc announced the closing of its previously announced initial public offering of 5,462,500 shares of common stock at a price to the public of $17.00 per share, which included 712,500 shares of common stock issued upon the exercise in full of the underwriters` option to purchase additional shares to cover over-allotments. All of the shares sold in the offering were sold by Silver Spring Networks. The shares began trading on The New York Stock Exchange on March 13, 2013 under the symbol SSNI. Goldman, Sachs & Co. and Credit Suisse Securities (USA) LLC acted as joint book-running managers for the offering and Stifel, Nicolaus & Company, Incorporated, Piper Jaffray & Co., Canaccord Genuity Inc., Evercore Group L.L.C., Pacific Crest Securities LLC and Robert W. Baird & Co. acted as co-managers. Full Article
Silver Spring Networks Inc Prices Initial Public Offering
Silver Spring Networks Inc announced the pricing of its initial public offering of 4,750,000 shares of common stock at a price to the public of $17.00 per share. The shares are expected to begin trading on The New York Stock Exchange on March 13, 2013 under the symbol "SSNI." All of the shares being sold in the offering are being sold by Silver Spring Networks. The underwriters have a 30-day option to purchase up to an additional 712,500 shares of common stock from Silver Spring Networks at the initial public offering price. Goldman, Sachs & Co. and Credit Suisse Securities (USA) LLC are acting as joint book-running managers for the offering and Piper Jaffray & Co., Stifel, Nicolaus & Company, Incorporated, Robert W. Baird & Co., Canaccord Genuity Inc., Evercore Group L.L.C., and Pacific Crest Securities LLC are acting as co-managers. Full Article
Hitachi, Ltd. And Silver Spring Networks Form Global Smart Grid Strategic Alliance
Hitachi, Ltd. and Silver Spring Networks, Inc announced that they have formed a strategic alliance under which Hitachi and Silver Spring propose to offer integrated solutions to power utilities and power users in the global smart grid sector. As part of the strategic alliance announced, Hitachi will acquire convertible bonds with stock acquisition rights to be issued by Silver Spring. The two companies will jointly undertake R&D for new products and solutions for the smart grid. Full Article

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