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Cyan reports plans to conduct initial public offering of common stock
Proceeds for working capital and other general corporate purposes
By Devika Patel
Knoxville, Tenn., April 4 - Cyan, Inc. will price an initial public offering of its common stock, according to a Form S-1 filed Thursday with the Securities and Exchange Commission. The company expects its shares will trade on the NYSE under the symbol "CYNI."
The deal will have a greenshoe option.
Goldman, Sachs & Co., J.P. Morgan, Jefferies and Pacific Crest Securities are assisting.
Proceeds will be used for working capital and other general corporate purposes.
The Petaluma, Calif., company helps network operators to virtualize their networks, accelerate service delivery and increase scalability and performance, while reducing costs.
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