Envivio Inc. said it is offering 6.50 million of the shares to be sold in the offering. The selling stockholders identified in this prospectus are offering an additional 1.25 million shares. Envivio would not receive any of the proceeds from the sale of the shares being sold by the selling stockholders. The company currently expects the initial public offering price per share to be between $10.00 and $12.00.
Video on demand service provider Envivio announced to raise funds of $85 million through an IPO (initial public offering) by selling $7.8 million shares (16 percent by selling shareholders) at the IPO price range of $10 to $12. Based on the of the middle point of the announced Envivo IPO price range, the company will command a market value of $325 million.
Envivio previously submitted the IPO registration statement to the U.S. SEC as early as June 2011, then postponed it later. The company plans to trade on the Nasdaq Stock Exchange under the ticker symbol ‘ENVI.” Goldman Sachs, Deutsche Bank and StifelNicolaus Weisel are serving as the lead underwriters for the Envivio IPO.
Envivio was founded in 2000 and is headquartered in San Francisco, California. The company has become a company providing high quality video content suitable for a variety of devices and networks from a video codec technology provider.
The company generated revenues of $51 million for fiscal 2012, an increase of 69 percent compare with the previous year; net profit is $138,000 compared with a net loss of $2 million last year. Customers increased from 220 in April 2011 to the current more than 300, including nine of the world’s ten largest broadband suppliers.
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