SAN JOSE, Calif., Aug. 2, 2018 /PRNewswire/ -- NETGEAR, Inc.
(NASDAQ: NTGR) and Arlo Technologies, Inc. ("Arlo"), a subsidiary
of NETGEAR, today announced the pricing of Arlo's initial public
offering ("IPO") of 10,215,000 shares of Arlo's common stock at a
price to the public of $16.00 per
share. The New York Stock Exchange has conditionally approved the
listing of the common stock shares. The shares are expected to
begin trading on the New York Stock Exchange under the ticker
symbol "ARLO" on August 3, 2018, and
the IPO is expected to close on or about August 7, 2018, subject to customary closing
conditions.
In addition, the underwriters will have a 30-day option to
purchase an additional 1,532,250 shares of common stock at the
initial public offering price, less the underwriting discount and
commissions.
BofA Merrill Lynch, Deutsche Bank Securities and Guggenheim
Securities are acting as lead book-running managers for the
offering. Raymond James, Cowen and
Imperial Capital are acting as joint book-running managers for the
offering.
The offering is being made only by means of a prospectus. A copy
of the final prospectus related to the offering may be obtained,
when available, from BofA Merrill Lynch, 200 North College Street,
3rd Floor, Charlotte NC 28255-0001, Attn: Prospectus
Department or by e-mailing: dg.prospectus_requests@baml.com;
from Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall
Street, New York, NY 10005 or by
telephone at 800-503-4611 or by
e-mailing: prospectus.CPDG@db.com; or from Guggenheim
Securities, LLC, Attn: Equity Syndicate Department, 330 Madison,
8th Floor, New York, NY 10017, or
by telephone at (212) 518-9658, or by email
to GSEquityProspectusDelivery@guggenheimpartners.com.
A registration statement relating to these securities has been
filed with, and declared effective by, the U.S. Securities and
Exchange Commission. This press release shall not constitute an
offer to sell or a solicitation of an offer to buy, nor shall there
be any sale of these securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
About NETGEAR, Inc.
NETGEAR (NASDAQ: NTGR) is a global networking company that delivers
innovative products to consumers, businesses and service providers.
The Company's products are built on a variety of proven
technologies such as wireless (WiFi and LTE), Ethernet and
powerline, with a focus on reliability and ease-of-use. The product
line consists of wired and wireless devices that enable networking,
broadband access and network connectivity. These products are
available in multiple configurations to address the needs of the
end-users in each geographic region in which the Company's products
are sold. NETGEAR products are sold in approximately 27,000 retail
locations around the globe, and through approximately 23,000
value-added resellers, as well as multiple major cable, mobile and
wireline service providers around the world. The company's
headquarters are in San Jose,
Calif., with additional offices in approximately 25
countries.
About Arlo Technologies, Inc.
Arlo is the
award-winning, industry leader that is transforming the way people
experience the connected lifestyle. Arlo's deep expertise in
product design, wireless connectivity, cloud infrastructure and
cutting-edge AI capabilities focuses on delivering a seamless,
smart home experience for Arlo users that is easy to setup and
interact with every day. The company's cloud-based platform
provides users with visibility, insight and a powerful means to
help protect and connect in real-time with the people and things
that matter most, from any location with a Wi-Fi or a cellular
connection. To date, Arlo has launched several categories of
award-winning smart connected devices, including wire-free smart
Wi-Fi and LTE-enabled cameras, advanced baby monitors and smart
security lights.
©2018 NETGEAR, Inc., NETGEAR and the NETGEAR logo are
trademarks and/or registered trademarks of NETGEAR, Inc. and
certain of its affiliates in the United
States and/or other countries. Arlo Technologies,
Inc., Arlo and the Arlo logo are trademarks and/or registered
trademarks of Arlo Technologies, Inc. and/or certain of its
affiliates in the United States
and/or other countries. Other brand and product names are for
identification purposes only and may be trademarks or registered
trademarks of their respective holder(s). The information contained
herein is subject to change without notice. Neither NETGEAR nor
Arlo shall be liable for technical or editorial errors or omissions
contained herein. All rights reserved.
Cautionary Statement Regarding Forward-Looking
Statements:
Statements in this press release contain
forward-looking statements that are subject to substantial risks
and uncertainties. Any statements contained herein that are not
statements of historical fact may be deemed to be forward-looking
statements. The words "anticipate," "expect," "believe," "will,"
"may," "should," "estimate," "project," "outlook," "forecast" or
other similar words are used to identify such forward-looking
statements. However, the absence of these words does not mean that
the statements are not forward-looking. The forward-looking
statements represent NETGEAR's or Arlo's expectations or beliefs
concerning future events based on information available at the time
such statements were made and include statements regarding the
initial public offering of Arlo. These statements are based on
management's current expectations and are subject to certain risks
and uncertainties, including, among others, market conditions,
unforeseen regulatory issues and the failure to satisfy any of the
conditions to such transaction that may cause results to differ
materially from the statements set forth in this press release.
Further, certain forward-looking statements are based on
assumptions as to future events that may not prove to be accurate.
Therefore, actual outcomes and results may differ materially from
what is expressed or forecast in such forward-looking statements.
Further information on potential risk factors that could affect
NETGEAR and Arlo and their respective businesses are detailed in
NETGEAR's and Arlo's filings with the SEC. Given these
circumstances, you should not place undue reliance on these
forward-looking statements. NETGEAR and Arlo undertake no
obligation to release publicly any revisions to any forward-looking
statements contained herein to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events.
Source: NETGEAR-F
Source: Arlo-F
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SOURCE NETGEAR, Inc.; Arlo Technologies, Inc.