Riverbed Seeks $75 Million In IPO

The San Francisco-based company makes appliances that help speed the transmission of data across the WAN. Roughly 70 percent of its U.S. sales come through the channel, a figure the company expects to grow this year, said Jerry Kennelly, CEO of Riverbed, in an interview earlier this year.

The company plans to trade on the Nasdaq under the symbol “RVBD,” according to the filing, which did not disclose estimated share price or number of shares to be offered.

Proceeds from the offering will go toward “working capital and other general purposes,” including growth and product development, the filing said. The company may also repay its credit facility or use the funds for acquisitions, though no specific agreements or commitments are in place.

Riverbed reported a loss of $17.4 million on revenue of $22.9 million for 2005. That compares to a loss of $9.8 million on revenue of $2.6 million in 2004.

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Goldman, Sachs and Co., Citigroup, Deutsche Bank Securities and Thomas Weisel Partners are underwriting the IPO.