Aerohive to price IPO of 7.5 million shares between $9.00 and $11.00

Goldman Sachs, BofA, Piper Jaffray, William Blair and JMP will assist

By Devika Patel

Knoxville, Tenn., March 17 - Aerohive Networks, Inc. will sell 7.5 million common shares in its initial public offering with a greenshoe of 1,125,000 additional shares, according to a Form S-1/A filed Monday with the Securities and Exchange Commission. The deal was announced Feb. 13.

The shares will be sold at a price expected to fall between $9.00 and $11.00 per share.

Goldman Sachs & Co. and BofA Merrill Lynch are the joint bookrunning managers. Piper Jaffray, William Blair and JMP Securities are the co-managers.

Proceeds will be used for general corporate purposes, including working capital, sales and marketing, research and development, general and administrative matters and capital expenditures.

The Sunnyvale, Calif., company has developed a cloud-managed mobile networking platform. The company intends to list its common stock on the New York Stock Exchange under the symbol "HIVE."

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