Aerohive Networks Inc. (NYSE: HIVE) Celebrates IPO At NYSE: CEO Discusses 'Explosion' Of Digital Learning

Category: Companies / Mar 28, 2014 5:42PM EDT
David Flynn, cheif executive officer at Aerohive Networks, celebrated the company's IPO by ringing the closing bell at the New York Stock Exchange on Friday, March 28. Aerohive Networks, a Silicon Valley-based controller-less Wi-Fi and cloud-managed mobile networking provider, began trading Friday under the ticker symbol (NYSE: HIVE).
The company announced on Thursday the pricing of its initial public offering of 7.5 million shares of its common stock at a price to the public of $10 per share. In addition, Aerohive has granted the underwriters a 30-day option to purchase up to 1,125,000 additional shares of common stock from Aerohive at the initial public offering price.  
Although Aerohive Networks dropped more than 9 percent on Friday, the stock later recovered to close at $10.