WELLESLEY HILLS, Mass.--(BUSINESS WIRE)--Oct. 11, 2012--
Fleetmatics (NYSE: FLTX), a leading global provider of fleet management
solutions for commercial fleet vehicles, today announced that it has
closed its previously announced initial public offering of its common
stock at a price to the public of $17.00 per share. In addition, the
underwriters have exercised in full their option to purchase an
additional 1,171,875 shares of common stock from selling shareholders.
As a result, the total initial public offering size was 8,984,375
shares, which consisted of 6,250,000 shares sold by Fleetmatics and
2,734,375 shares sold by selling shareholders. The net proceeds to
Fleetmatics from its sale of 6,250,000 shares were approximately $94.3
million after deducting underwriting discounts and commissions and
estimated offering expenses. Fleetmatics did not receive any proceeds
from the sale of shares by the selling stockholders.
Barclays and BofA Merrill Lynch acted as joint book-running managers for
the offering. RBC Capital Markets, Stifel Nicolaus Weisel, and William
Blair acted as co-managers.
A registration statement related to these securities has been filed
with, and declared effective by, the Securities and Exchange Commission.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
The offering was made only by means of a written prospectus forming part
of the effective registration statement. Copies of the prospectus
related to the offering may be obtained from Barclays, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717,
or by calling (888) 603-5847 or by emailing firstname.lastname@example.org
or from BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway,
New York, New York 10038, or by emailing email@example.com.
Fleetmatics is a leading global provider of fleet management solutions
for small and medium-sized businesses delivered as software-as-a-service
(SaaS). Our solutions enable businesses to meet the challenges
associated with managing local fleets, and improve the productivity of
their mobile workforces, by extracting actionable business intelligence
from real-time and historical vehicle and driver behavioral data.
Fleetmatics' intuitive, cost-effective Web-based solutions provide fleet
operators with visibility into vehicle location, fuel usage, speed and
mileage, and other insights into their mobile workforce, enabling them
to reduce operating and capital costs, as well as increase revenue.
Fleetmatics serves more than 16,000 customers, tracking more than
280,000 vehicles worldwide.
Fleetmatics' solutions are marketed and sold under both the Fleetmatics
and SageQuest brands.
ICR Inc. on behalf of Fleetmatics
Andrew Kraynak, 888-837-7243 x3328
of Marketing Communications