Sonos, With Board Including Genachowski, Looks to Raise $264 Million in IPO
Sonos, whose board includes ex-FCC Chairman Julius Genachowski, hopes to raise about $264 million in its initial public offering, said the wireless multiroom audio company in an SEC filing Monday. The company is offering 5.6 million shares, and selling stockholders…
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are offering 8.4 million shares, with an offering price between $17 and $19 per share. It will trade on Nasdaq as SONO. The largest stakeholder is KKR, with 25.7 percent on June 30, followed by Index Ventures with 13 percent. Co-founder John MacFarlane owns 9.9 percent, Valdur Koha 7.4 percent, Redpoint Ventures 5.2 percent and CEO Patrick Spence 1.5 percent. Directors include Genachowski (106,422 shares), former Cisco executive and Index Ventures General Partner Mike Volpi (12.1 million shares) and former Microsoft executive Robert Bach (410,152 shares). In FY 2017, revenue rose 10 percent to $992.5 million.