FatPipe, which provides network software solutions for enterprises, raised $4 million by offering 0.7 million shares at $5.75, the low end of the range of $5.75 to $7.75.
Because the company raised less than $5 million, FatPipe will be excluded from Renaissance Capital's IPO stats.
FatPipe provides enterprise-class, application-aware, secure software-defined wide area network (SD-WAN) solutions for organizations, including enterprises, communication service providers, security service providers, government organizations, and middle-market companies. Through its integrated suite of software solutions, the company offers customers a reliable and secure platform to support mission-critical applications running on cloud, hybrid cloud, and on-premise networks. Its core offerings include SD-WAN, secure access service edge (SASE), and network monitoring service (NMS) software solutions, each of which is typically offered as a subscription service. FatPipe primarily serves customers in the US and India, though it plans to continue expanding its presence throughout North America and parts of Southeast Asia.
FatPipe plans to list on the Nasdaq under the symbol FATN. D. Boral Capital acted as sole bookrunner on the deal.
