Carbonite Closes IPO at Lower Price

Carbonite, Inc. announced the closing of its previously announced initial public offering of 7,187,500 shares of its common stock, which includes all 937,500 shares subject to the underwriters’ option to purchase additional shares, at a price to the public of $10.00 per share.  

Carbonite sold 6,303,973 shares of common stock and certain selling stockholders sold the remaining 883,527 shares of common stock. Carbonite did not receive any proceeds from the sale of shares by the selling stockholders.

BofA Merrill Lynch and J.P. Morgan Securities LLC acted as joint book-running managers for the offering. William Blair & company, LLC, Canaccord Genuity Inc., Oppenheimer & Co. Inc. and Pacific Crest Securities Inc. acted as co-managers.