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Palo Alto Networks prices IPO at $42, well above upwardly revised range

July 19, 2012

Palo Alto Networks, which provides firewall products to 7,750 enterprise customers, raised $260 million by offering 6 million shares at $42, well above the upwardly revised range of $38 to $40. The company had originally filed a range of $34 to $37. Palo Alto Networks plans to list on the NYSE under the symbol PANW. Morgan Stanley, Goldman Sachs and Citi acted as lead managers on the deal.