Exhibit 99.1
NETGEAR and Arlo Announce Pricing of Initial Public Offering
SAN JOSE, Calif. — August 2, 2018— NETGEAR, Inc. (NASDAQ: NTGR) and Arlo Technologies, Inc. (“Arlo”), a subsidiary of NETGEAR, today announced the pricing of Arlo’s initial public offering (“IPO”) of 10,215,000 shares of Arlo’s common stock at a price to the public of $16.00 per share. The New York Stock Exchange has conditionally approved the listing of the common stock shares. The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol “ARLO” on August 3, 2018, and the IPO is expected to close on or about August 7, 2018, subject to customary closing conditions.
In addition, the underwriters will have a 30-day option to purchase an additional 1,532,250 shares of common stock at the initial public offering price, less the underwriting discount and commissions.
BofA Merrill Lynch, Deutsche Bank Securities and Guggenheim Securities are acting as lead book-running managers for the offering. Raymond James, Cowen and Imperial Capital are acting as joint book-running managers for the offering.
The offering is being made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from BofA Merrill Lynch, 200 North College Street, 3rd Floor, Charlotte NC 28255-0001, Attn: Prospectus Department or by e-mailing: dg.prospectus_requests@baml.com; from Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, NY 10005 or by telephone at 800-503-4611 or by e-mailing: prospectus.CPDG@db.com; or from Guggenheim Securities, LLC, Attn: Equity Syndicate Department, 330 Madison, 8th Floor, New York, NY 10017, or by telephone at (212) 518-9658, or by email to GSEquityProspectusDelivery@guggenheimpartners.com.
A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About NETGEAR, Inc.
NETGEAR (NASDAQ: NTGR) is a global networking company that delivers innovative products to consumers, businesses and service providers. The Company’s products are built on a variety of proven technologies such as wireless (WiFi and LTE), Ethernet and powerline, with a focus on reliability and ease-of-use. The product line consists of wired and wireless devices that enable networking, broadband access and network connectivity. These products are available in multiple configurations to address the needs of the end-users in each geographic region in which the Company’s products are sold. NETGEAR products are sold in approximately 27,000 retail locations around the globe, and through approximately 23,000 value-added resellers, as well as multiple major cable, mobile and wireline service providers around the world. The company’s headquarters are in San Jose, Calif., with additional offices in approximately 25 countries.
