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SolarWinds Scores in Debut Trading – Zacks Tale of the Tape
Zacks Market Commentaries (May 20th, 2009) Writes:
SolarWinds Inc. (SWI) shares powered up more than 20% in debut trading on Wednesday after the software maker's initial public offering priced above its expected range.
The Austin, Texas-based company's IPO was priced at $12.50 per share, above the expected price range of $9.50 to $11.50. SolarWinds is the sixth IPO this year in the US and the third to price above its expected range. However, the amount raised from the offering is still lower than the company's original target of $250 million when it registered for the IPO back in March 2008.
The provider of network management software is backed by venture capitalists like Bain Capital and Insight Ventures, both of which sold a portion of their stake in the offering. This is the first venture-backed deal to hit the U.S. market since August 2008.
SolarWinds has been profitable since its inception in 1999
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