FatPipe, which provides network software solutions for enterprises, announced terms for its IPO on Wednesday.
The Salt Lake City, UT-based company plans to raise $5 million by offering 0.7 million shares at a price range of $5.75 to $7.75. At the midpoint of the proposed range, FatPipe would command a market value of $93 million.
If the company raises less than $5 million, it will be excluded from Renaissance Capital’s IPO stats.
FatPipe provides enterprise-class, application-aware, secure software-defined wide area network (SD-WAN) solutions for organizations, including enterprises, communication service providers, security service providers, government organizations, and middle-market companies. Through its integrated suite of software solutions, the company offers customers a reliable and secure platform to support mission-critical applications running on cloud, hybrid cloud, and on-premise networks. Its core offerings include SD-WAN, secure access service edge (SASE), and network monitoring service (NMS) software solutions, each of which is typically offered as a subscription service. FatPipe primarily serves customers in the US and India, though it plans to continue expanding its presence throughout North America and parts of Southeast Asia.
FatPipe was founded in 2010 and booked $19 million in revenue for the 12 months ended September 30, 2024. It plans to list on the Nasdaq under the symbol FATN. D. Boral Capital is the sole bookrunner on the deal.
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