WELLESLEY HILLS, Mass.--()--Fleetmatics, a leading global provider of fleet management solutions for commercial fleet vehicles, today announced the pricing of its initial public offering of 7,812,500 shares of its common stock at a price to the public of $17.00 per share. The shares are expected to begin trading on the New York Stock Exchange on October 5, 2012 under the symbol "FLTX." Fleetmatics is offering 6,250,000 shares of common stock and selling stockholders are offering 1,562,500 shares of common stock. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to 1,171,875 additional shares of common stock.
Barclays and BofA Merrill Lynch are acting as joint book-running managers for the offering. RBC Capital Markets, Stifel Nicolaus Weisel, and William Blair are acting as co-managers.
A registration statement related to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 registration or qualification under the securities laws of any such state or jurisdiction.
The offering will be made only by means of a written prospectus forming part of the effective registration statement. Copies of the prospectus related to the offering may be obtained from Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling (888) 603-5847 or by emailing email@example.com or from BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New York, NY 10038, or by emailing firstname.lastname@example.org.
Fleetmatics is a leading global provider of fleet management solutions for small and medium-sized businesses delivered as software-as-a-service (SaaS). Our solutions enable businesses to meet the challenges associated with managing local fleets, and improve the productivity of their mobile workforces, by extracting actionable business intelligence from real-time and historical vehicle and driver behavioral data.
Fleetmatics' intuitive, cost-effective Web-based solutions provide fleet operators with visibility into vehicle location, fuel usage, speed and mileage, and other insights into their mobile workforce, enabling them to reduce operating and capital costs, as well as increase revenue. Fleetmatics serves more than 16,000 customers, tracking more than 280,000 vehicles worldwide.
Fleetmatics' solutions are marketed and sold under both the Fleetmatics and SageQuest brands.