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Investing

Infoblox Insiders File to Cash Out in Secondary Offering

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By Jon C. Ogg Updated Published

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Infoblox Inc. (NYSE: BLOX) has only been public since April, and we are already getting its preliminary filing that would allow for more shares to be sold by insiders. The company filed an S-1 registration statement the Securities and Exchange Commission, which is not yet effective, to allow insiders to sell shares via a secondary offering. As you would expect from almost all insider-secondaries, Infoblox will not receive any proceeds from the sale of the shares.

Morgan Stanley and Goldman Sachs are named as the lead joint book-running managers for the offering. UBS Securities is set to be the joint book-running manager, and co-managers are listed as Pacific Crest Securities, JMP Securities and Stephens Inc.

When Infoblox went public, it was a hot IPO, and it was before the “sell in May and go away” theme took hold. Its $16 per share pricing was above the $12 to $14 range, and shares closed up above $21 after the IPO.

Infoblox shares closed at $22.17 on Tuesday, and the post-IPO range has been $16.80 to $24.15.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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