Carbonite Proposed Public Offering of Common Stock

Carbonite, Inc. has commenced a proposed public offering of 4.0 million shares of its common stock. 

In addition, 520,156 shares beneficially owned by David Friend, a co-founder and director, are being offered by a selling stockholder. 

Carbonite expects to grant the underwriters a 30-day option to purchase up to an additional 678,023 shares of common stock offered by Carbonite in the public offering at the public offering price.

Carbonite intends to use the net proceeds from this offering to repay outstanding amounts under its existing $130 million revolving credit facility and for general corporate purposes, including potential acquisitions.

It doesn’t have any agreements or commitments for any acquisitions or investments at this time. 

Carbonite will not receive any proceeds from the sale of the shares of common stock by the selling stockholder.

Barclays, Jefferies LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. Stifel, Nicolaus & Company, Incorporated is acting as lead manager. 

The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the final size or terms of the offering.

The shares are being offered by Carbonite and the selling stockholder pursuant to an effective shelf registration statement filed with the SEC and only by means of a prospectus and prospectus supplement.

The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

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Carbonite Closes IPO at Lower Price
$10.00 per share
2011.08.23 | Press Release