FatPipe (FATN) Plans to Raise $5 Million in February 24th IPO

FatPipe (FATN) is planning to raise $5 million in an IPO on the week of February 24th, IPO Scoop reports. The company will issue 700,000 shares at $5.75-$7.75 per share.

In the last twelve months, FatPipe generated $18.7 million in revenue and $5.2 million in net income. The company has a market-cap of $92.9 million.

D. Boral Capital (ex-EF Hutton) acted as the underwriter for the IPO.

FatPipe provided the following description of their company for its IPO: “We provide enterprises with network software solutions. (Incorporated in Utah) We offer secure software-defined wide area network (SD-WAN) solutions to enterprises, communication service providers, security service providers, government organizations and middle-market companies. We provide a reliable and secure platform to support mission-critical applications running on cloud, hybrid cloud and on-premise networks. We serve customers in the U.S. and India. We plan to expand throughout North America and in Southeast Asia. Note: Net income and revenue are for the 12 months that ended Sept. 30, 2024. (Note: FatPipe Inc. filed its S-1/A on Feb. 3, 2025, and disclosed its IPO’s terms: 0.74 million shares (740,740 shares) at a price range of $5.75 to $7.75 to raise $5.0 million, if priced at the $6.75 mid-point of its range. In  that filing, FatPipe named D. Boral Capital as its sole book-runner, replacing Roth Capital Partners as the book-runner and Craig-Hallum as the co-manager. Background: FatPipe filed its S-1 without disclosing the terms for its IPO on July 2024. Estimated IPO proceeds were about $15.0 million. Background: The company submitted confidential IPO documents to the SEC on Oct. 10, 2023.) “.

FatPipe was founded in 2010 and has 154 employees. The company is located at 392 East Winchester Street, Fifth Floor Salt Lake City, Utah 84107 and can be reached via phone at (801) 281-3434 or on the web at http://www.fatpipe.com/.