Deals
Palo Alto Raises $260.4 Million, Pricing IPO Above Range
This article is for subscribers only.
Palo Alto Networks Inc. and Kayak Software Corp. raised a combined $351.4 million, pricing their initial public offerings above the proposed ranges and tapping renewed investor demand for technology shares.
Palo Alto, a maker of Internet firewalls, raised $260.4 million selling 6.2 million shares at $42 apiece, it said in a statement today, after offering the shares for $38 to $40. Kayak, an online travel company, raised $91 million selling 3.5 million shares at $26 apiece, a dollar more than the top end of the marketed range, according to a company statement.