OOMA News

The IPO market saw sevens this past week. Seven IPOs raised $700 million. Cybersecurity firm Rapid7 spiked 56% on its offering, while cancer biotech ProNAi Therapeutics (+76%) had the seventh-best debut of 2015 and home phone provider Ooma had the seventh-worst. Small deal sizes - each under $150 million - became bigger as five companies priced above the midpoint. Just one...read more

Ooma, which provides internet-based phone service to homes and small businesses, raised $65 million by offering 5 million shares at $13, below the range of $16 to $18. Ooma plans to list on the NYSE under the symbol OOMA. Credit Suisse, BofA Merrill Lynch and JMP Securities acted as lead managers on the deal....read more

After a July 4th pause in the IPO market, eight companies could go public this week and raise $675 million. None of the scheduled deals expect to raise over $125 million in proceeds, and only two have proposed market caps over $500 million. This week's offerings include three biotechs, two consumer IPOs, one high-growth tech deal, a consumer-focused telecom provider and a...read more

Ooma, which provides internet-based telecom services for homes and small businesses, announced terms for its IPO on Monday. The Palo Alto, CA-based company plans to raise $85 million by offering 5 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Ooma would command a fully diluted market value of $315 million. The company competes with...read more