Silver Spring Networks, which supplies a networking platform for energy utilities, announced the pricing of its initial public offering of 4,750,000 shares of common stock at a price to the public of $17.00 per share. This equates to approximately $81 million.
Silver Spring Networks customers include major utilities around the globe such as Baltimore Gas & Electric, CitiPower & Powercor, Commonwealth Edison, CPS Energy, Florida Power & Light, Jemena Electricity Networks Limited, Pacific Gas & Electric, Pepco Holdings, Inc., and Progress Energy, among others.