Secondary Check Point offering
Shareholders in the security software firm will sell 2.5 million shares at 24-1/2 a share to the public.
Shareholders will make public 2.5 million shares at 24-1/2 a share. Check Point's stock was up today, continuing an upward trend since mid-April.
The company's 52-week high reached 36-1/4; its low was 13-1/4 a share. Underwriting the offering are Goldman Sachs, Hambrecht & Quist, Robertson Stephens, and Wessels, Arnold & Henderson.
Although Check Point will not receive any capital from the offering, the company is nonetheless forging ahead with expansion.
Last month, it announced 75 partners that will back its enterprise security framework. The Open Platform for Secure Enterprise Connectivity Alliance is a framework that focuses on the central management of different network security products.