Fortinet, which sells network security appliances and unified threat management tools, has announced its initial public offering of 12,500,000 shares of its common stock at a price to the public of $12.50 per share. 

 

The shares will begin trading on Wednesday, November 18, 2009 on the NASDAQ Global Market under the ticker symbol FTNT. 

 

Of the shares in the offering, 5,781,683 shares are being offered by the company and 6,718,317 shares are being offering by selling stockholders. In addition, Fortinet (News - Alert) has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of common stock to cover over-allotments, if any. 

 

Fortinet will not receive any proceeds from the sale of shares by the selling stockholders.

Morgan Stanley & Co. Incorporated, J.P. Morgan Securities Inc., and Deutsche Bank Securities Inc. are acting as joint book-runners for the offering. Robert W. Baird & Co. Incorporated, RBC Capital Markets Corporation, ThinkEquity LLC, JMP Securities (News - Alert) LLC, and Signal Hill Capital Group LLC are acting as co-managers.

The offering of these securities will be made only by means of a prospectus, copies of which may be obtained from Morgan Stanley.

 

Earlier this month TMCplatinum” certification in the VBSpam Awards.

Virus Bulletin staff tested FortiMail among 13 other anti-spam products for detection rates and the number of false positives. Fortinet’s FortiMail product was one of only two products that achieved the Platinum-level certification, which is given to products with a spam catch rate twice as high and a false positive rate twice as low as the average in the test, VBSpam officials said.

had the news that Fortinet announced that its FortiMail e-mail security appliance was awarded Virus Bulletin’s highest level “

Anthony James, vice president of products, Fortinet, said he’s “thrilled to have our FortiMail appliance Platinum-certified by Virus Bulletin. The highest-level VBSpam award underscores our dedication to providing customers with powerful and differentiated anti-spam products to meet their constantly evolving security needs.”  

Fortinet’s FortiMail e-mail security appliance is a multi-layered e-mail security platform that removes unwanted spam and provides maximum protection for blended e-mail-related threats. FortiMail enables enterprises to increase productivity by reducing unwanted spam messages and facilitates regulatory compliance through advanced e-mail content archiving and routing.