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CARB - Carbonite Inc

post #1 of 7
Thread Starter 




Carbonite has set the terms for the pricing of its initial public offering.  If you will recall, Carbonite is one of our own Top 17 IPOs to Watch in 2011.  The innovator in providing secure online backup solutions is selling 5.4 million shares of common stock at maximum offering price of $122.2 million. 

The company expects its shares to price between $15.00 and $17.00 per share.  Upon completion of the offering the company expects to list its shares on the NASDAQ under the ticker symbol “CARB.”


The company aspires to be the industry leader in providing easy-to-use, affordable, and secure online backup solutions with anytime, anywhere access to stored files.  The company has branded its online backup service “Carbonite Personal Cloud” and touts it as the best known brand in the online backup market.


Carbonite intends to use the proceeds for general corporate purposes, including working capital, sales and marketing activities, general and administrative matters, and capital expenditures. The company also intends to use a portion of the net proceeds to obtain rights to complementary technologies and businesses.


The company posted net losses of $17.4 million for FY2008, $19.2 million for FY2009 and $25.8 million for FY2010 on revenues of $8.2 million, $19.1 million and $38.6 million respectively.    For the six months ending June 30, 2010 the company realized net losses of $14 million for FY2010 and $10 million for FY2011 on revenues of $16.7 million and $27.2 million.

Merrill Lynch and J.P. Morgan are the lead underwriters in the offering.  William Blair & Company, Canaccord Genuity, Oppenheimer & Co. and Pacific Crest Securities will also participate in the underwriting group. - By 24/7 Wall St.

post #2 of 7
Thread Starter 

+13% today to $17 and change.


The stock opened for trading at 10.80 at the IPO, very impressive so far.

post #3 of 7
I like the idea of what carbonate online does, I might jump in one of these days as a spec play. I think carb will do well.
post #4 of 7

When will they offer options?

post #5 of 7

Not sure what is going on with the short term bashing..? Analysts don't have a range for their estimate either? Hmm.. Just seems like people are trying too hard to make the short term perspectives bad and the longer story good. I am not going to argue with the chart either in terms of the upside biased candle that was made today.

post #6 of 7

Pretty nice past few days...

post #7 of 7

Wow it looks like someone made a market order for $45,000 shares. Wonder if that was intentional.

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