Exhibit 99.1
NETGEAR and Arlo Announce Closing of Initial Public Offering
SAN JOSE, Calif. — August 7, 2018— NETGEAR, Inc. (NASDAQ: NTGR) and Arlo Technologies, Inc. (NYSE: ARLO) (“Arlo”), today announced the closing of Arlo’s initial public offering (“IPO”) of 11,747,250 shares of Arlo’s common stock at a price to the public of $16.00 per share, which included the underwriters’ full exercise of their option to purchase 1,532,250 shares to cover over-allotments. The shares began trading on the New York Stock Exchange under the symbol “ARLO” on August 3, 2018.
Upon the closing of the IPO, NETGEAR owned approximately 84.2% of the shares of Arlo’s outstanding common stock. This is based on 74,247,250 shares of Arlo’s common stock outstanding following the IPO.
BofA Merrill Lynch, Deutsche Bank Securities and Guggenheim Securities acted as lead book-running managers for the offering. Raymond James, Cowen and Imperial Capital acted as joint book-running managers for the offering.
The offering was made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained from BofA Merrill Lynch, 200 North College Street, 3rd Floor, Charlotte NC 28255-0001, Attn: Prospectus Department or bye-mailing: dg.prospectus_requests@baml.com; from Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, NY 10005 or by telephone at800-503-4611 or bye-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. NETGEAR’s products are built on a variety of proven technologies such as wireless (WiFi and LTE), Ethernet and powerline, with a focus on reliability andease-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 theend-users in each geographic region in which NETGEAR’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. NETGEAR’s headquarters are in San Jose, Calif., with additional offices in approximately 25 countries.
