Ubiquiti prices at bottom of downwardly revised range, first US IPO since August

Ubiquiti Networks, which provides wireless networking solutions to carriers in underserved markets, raised $106 million in an initial public offering on Thursday. The company sold 7 million shares at $15, the bottom of the downwardly revised $15 to $17 price range (original range was $20 to $22). The deal is notably the first to price in the US since Chinese online video website Tudou in mid-August. Ubiquiti Networks plans to list on the NASDAQ under the symbol UBNT. UBS, Raymond James and Deutsche Bank acted as lead managers on the deal.