Company floats 4.75 million shares at $17 each to raise $80.75m.
Silver Spring Networks, a US-based smart grid networking company backed by Japan-based technology group Hitachi and US peer EMC, has sold 4.75 million shares at $17 each to raise $80.75m at a market capitalisation of $754m.
The company said venture capital firm Foundation Capital bought $12m of shares at its initial public offering price before the opening on the stock New York Stock Exchange at $22 each.
Silver Spring had set its initial public offering terms to 3.7 million shares…
