Arlo Technologies, a smart security camera maker being spun out of Netgear, announced terms for its IPO on Monday.
The San Jose, CA-based company plans to raise $194 million by offering 10.2 million shares at a price range of $18 to $20. At the midpoint of the proposed range, Arlo Technologies would command a fully diluted market value of $1.4 billion.
Arlo Technologies was founded in 2014 and booked $409 million in revenue for the 12 months ended March 31, 2018. It plans to list on the NYSE under the symbol ARLO. BofA Merrill Lynch, Deutsche Bank and Guggenheim Securities are the joint bookrunners on the deal. It is expected to price during the week of July 30, 2018.
