March 26, 2007 / 11:10 PM / 11 years ago

Aruba Networks IPO raises $88 mln, above range

NEW YORK, March 26 (Reuters) - Wireless networking hardware maker Aruba Networks Inc., on Monday raised $88 million with an initial public offering that was priced above a forecast range.

The 8 million share offering sold for $11 per share compared with an $8 to $10 forecast range, according to an underwriter.

Underwriters, led by Goldman Sachs & Co. and Lehman Brothers, have the option to purchase an additional 1.2 million shares to cover overallotments.

Aruba Networks plans to list its stock on Nasdaq under the symbol “ARUN” ARUN.O.

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