Silver Spring Networks (SSNI) delivers a sterling IPO. After pricing its offering at $17 (the...

|About: Silver Spring Networks (SSNI)|By:, SA News Editor

Silver Spring Networks (SSNI) delivers a sterling IPO. After pricing its offering at $17 (the midpoint of its range), shares opened at $22 and are currently trading at $21.10, up 24.1%. That's good for a market cap of $955M, or 4.9x 2012 sales. 4.75M shares were sold in the IPO, 1M more than the maker of smart grid networking gear originally planned. (S-1)