Fortinet, which offers network security appliances to enterprises and service providers, raised $156 million by offering 12.5 million shares at $12.50, above its proposed range of $9 to $11. Earlier in the week the company increased the size of its offering from 12.0 million to 12.5 million shares with the additional shares being offered by insiders. Fortinet's shares will begin trading on Wednesday on the NASDAQ under the symbol FTNT. Morgan Stanley, J.P. Morgan, and Deutsche Bank acted as lead managers on the deal.
