FREMONT, Calif. -- 3PAR, the leading global provider of utility storage, announced today that its initial public offering of 7,500,000 shares of common stock has been priced at $14.00 per share. 3PARs common stock will be listed on NYSE Arca under the trading symbol "PAR" and will begin trading Friday, November 16, 2007. All 7,500,000 shares are being offered exclusively by 3PAR. Net proceeds to the company are expected to be approximately $95 million.
3PAR has also granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares from 3PAR at the initial public offering price less the underwriting discount. Goldman, Sachs & Co. and Credit Suisse Securities (USA) LLC acted as joint book-running managers with UBS Investment Bank acting as co-lead manager. Thomas Weisel Partners LLC and RBC Capital Markets acted as co-managers for the offering.
A registration statement relating to these securities has been filed with, and has been declared effective by, the Securities and Exchange Commission. The offering of the common stock may be made only by means of a prospectus, copies of which may be obtained from the prospectus department of Goldman, Sachs & Co., Attention: Prospectus Department, 85 Broad Street New York, New York 10004, via email at [email protected], or via fax at (212)-902-9316; or from the prospectus department of Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, via telephone at (800) 221-1037.