Finance History|Nasdaq MarketSite — Ten Dollars for Three Million Traffic Shares
· 1999-6
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Finance History|Nasdaq MarketSite — Ten Dollars for Three Million Traffic Shares
kevin
People treat F5 as a Seattle software name that always printed FFIV after a finished application-delivery book.
The June 1999 issuer was F5 Networks Inc., incorporated in 1996. It sold load-balancing appliances that steered internet traffic across servers.
On 4 June 1999 the Nasdaq National Market opened the letters FFIV. The offering was priced at 10.00 dollars a share. Three million shares were sold, 2.86 million for the company and 140,000 for a selling holder.
The first print was 10.25 dollars. The session closed at 14.875 dollars. The company realized about 25 million dollars in 1999 currency.
The last fiscal year before the float showed 4.9 million dollars of sales and a 3.7 million dollar loss. The prospectus counted 123 employees. Underwriters were Hambrecht and Quist, BancBoston Robertson Stephens, and Dain Rauscher Wessels.
The mechanism is a cash technology IPO into a dealer market. New public equity funded sales and marketing. The same letters still print a quarter century later.
Nasdaq MarketSite at 4 Times Square is the public facade for that tape. Interior studios are not a visitor floor.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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