Opower Prices IPO At $19/shr, High End Of Expected Range

(RTTNews) - Opower Inc., a leading provider of cloud-based software to the utility industry, announced that it has priced initial public offering of 6.1 million common shares at $19.00 per share, which represents top end of the expected range.

In the amended filing with the SEC, the company had expected to price the initial public offering of 6.1 million common shares of between $17.00 and $19.00 per share.

The Arlington, Virginia-based company shares are expected to begin trading on the New York Stock Exchange on April 4, 2014 under the ticker "OPWR."

Opower, which was founded in 2007, has granted the underwriters a 30-day option to buy up to 915 thousand additional common shares at the initial public offering price.

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