SAN FRANCISCO, March 30, 2010 — ThinkEquity LLC – A Panmure Gordon Company, a leading investment banking boutique focused on growth companies and their investors, is pleased to announce the completion of the initial public offering of stock for Meru Networks Inc. on March 30, 2010.
The Company issued 5,044,801 shares of common stock at a price of $15.00 per share raising gross proceeds of approximately $75.7 million. ThinkEquity LLC acted as a Co-Manager in this transaction. Meru Network Inc.’s common stock is now trading on the NASDAQ Global Market under the symbol “MERU”.
Meru provides a wireless LAN solution that cost-effectively optimizes the enterprise network to deliver the performance, reliability, predictability and operational simplicity of a wired network, with the advantages of mobility. Meru enables enterprises to migrate their business-critical applications from wired networks to wireless networks, and become All-Wireless Enterprises. The company is headquartered in Sunnyvale, California, and was founded in 2002.
The securities describe above were offered by Meru Networks Inc. pursuant to a S1 registration statement previously filed with and declared effective by the Securities and Exchange Commission on March 30, 2010. The final prospectus is available at the SEC’s website at http://www.sec.gov, or by contacting ThinkEquity LLC at 600 Montgomery Street, 3rd Floor, San Francisco, CA 94111, Attn: Prospectus Department 415-249-2935.