Cyan shares to begin trading Thursday

CATHY BUSSEWITZ
THE PRESS DEMOCRAT

Cyan, the Petaluma networking equipment company, will make its debut Thursday morning on Wall Street.

Late Wednesday, the company announced that it had priced its 8 million shares of common stock at $11 per share. The shares are scheduled to begin trading Thursday on the New York Stock Exchange under the symbol CYNI.

The underwriters have been granted a 30-day option to purchase up to an additional 1.2 million shares of common stock from Cyan at the IPO price.

Goldman, Sachs & Co. and J.P. Morgan Securities are acting as lead joint book-running managers for the offering. Jefferies is acting as a book-running manager, and Pacific Crest Securities is acting as a co-manager.

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