Fleetmatics Announces Closing of Initial Public Offering

Fleetmatics Announces Closing of Initial Public Offering

WELLESLEY HILLS, Mass.--(BUSINESS WIRE)-- Fleetmatics (NYS: FLTX) , a leading global provider of fleet management solutions for commercial fleet vehicles, today announced that it has closed its previously announced initial public offering of its common stock at a price to the public of $17.00 per share. In addition, the underwriters have exercised in full their option to purchase an additional 1,171,875 shares of common stock from selling shareholders. As a result, the total initial public offering size was 8,984,375 shares, which consisted of 6,250,000 shares sold by Fleetmatics and 2,734,375 shares sold by selling shareholders. The net proceeds to Fleetmatics from its sale of 6,250,000 shares were approximately $94.3 million after deducting underwriting discounts and commissions and estimated offering expenses. Fleetmatics did not receive any proceeds from the sale of shares by the selling stockholders.

Barclays and BofA Merrill Lynch acted as joint book-running managers for the offering. RBC Capital Markets, Stifel Nicolaus Weisel, and William Blair acted as co-managers.

A registration statement related to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering was made only by means of a written prospectus forming part of the effective registration statement. Copies of the prospectus related to the offering may be obtained from Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling (888) 603-5847 or by emailing barclaysprospectus@broadridge.com or from BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New York, New York 10038, or by emailing dg.prospectus_requests@baml.com.

About Fleetmatics

Fleetmatics is a leading global provider of fleet management solutions for small and medium-sized businesses delivered as software-as-a-service (SaaS). Our solutions enable businesses to meet the challenges associated with managing local fleets, and improve the productivity of their mobile workforces, by extracting actionable business intelligence from real-time and historical vehicle and driver behavioral data.

Fleetmatics' intuitive, cost-effective Web-based solutions provide fleet operators with visibility into vehicle location, fuel usage, speed and mileage, and other insights into their mobile workforce, enabling them to reduce operating and capital costs, as well as increase revenue. Fleetmatics serves more than 16,000 customers, tracking more than 280,000 vehicles worldwide.

Fleetmatics' solutions are marketed and sold under both the Fleetmatics and SageQuest brands.

Investor Contact:
ICR Inc. on behalf of Fleetmatics
Seth Potter, 646-277-1230
Media Contact:
Andrew Kraynak, 888-837-7243 x3328
Sr. Director of Marketing Communications

KEYWORDS: United States North America Massachusetts


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