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TMCNet:  Opower Announces Pricing of Initial Public Offering

[April 03, 2014]

Opower Announces Pricing of Initial Public Offering

ARLINGTON, Va. --(Business Wire)--

Opower, a leading provider of cloud-based software to the utility industry, today announced the pricing of its Initial Public Offering of 6,100,000 shares of its common stock at a price of $19.00 per share. The shares are expected to begin trading on the New York Stock Exchange on April 4, 2014 under the ticker "OPWR." All of the common stock is being offered by Opower. In addition, Opower has granted the underwriters a 30-day option to purchase up to 915,000 additional shares of common stock from Opower at the Initial Public Offering price.

Morgan Stanley & Co. LLC and Goldman, Sachs & Co. are acting as lead book-running managers for the proposed offerin. Allen & Company LLC, Pacific Crest Securities LLC, Canaccord Genuity Inc. and Cowen and Company, LLC are acting as co-managers.


The offering will be made only by means of a prospectus. Copies of the prospectus related to the offering may be obtained, when available, from Morgan Stanley & Co. LLC at 180 Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department, or by calling (866) 718-1649, or by emailing prospectus@morganstanley.com, or from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, or email: prospectus-ny@ny.email.gs.com.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.


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