Investing
Infoblox Insiders File to Cash Out in Secondary Offering
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Infoblox Inc. (NYSE: BLOX) has only been public since April, and we are already getting its preliminary filing that would allow for more shares to be sold by insiders. The company filed an S-1 registration statement the Securities and Exchange Commission, which is not yet effective, to allow insiders to sell shares via a secondary offering. As you would expect from almost all insider-secondaries, Infoblox will not receive any proceeds from the sale of the shares.
Morgan Stanley and Goldman Sachs are named as the lead joint book-running managers for the offering. UBS Securities is set to be the joint book-running manager, and co-managers are listed as Pacific Crest Securities, JMP Securities and Stephens Inc.
When Infoblox went public, it was a hot IPO, and it was before the “sell in May and go away” theme took hold. Its $16 per share pricing was above the $12 to $14 range, and shares closed up above $21 after the IPO.
Infoblox shares closed at $22.17 on Tuesday, and the post-IPO range has been $16.80 to $24.15.
JON C. OGG
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