SodaStream IPO makes a splash on Nasdaq

The shares were priced at the high end of the offered range.

Home seltzer systems maker Sodastream International Ltd. priced the 5.45 million shares offered in its Nasdaq IPO at $20 per share, raising $109 million, at a company value of $367 million, after money. The company offered the shares at $18-20.

Trading in SodaStream's share will begin on November 8, under the ticker "SODA".

Fortissimo Capital's stake in SodaStream was reduced 40% to 28%. Fortissimo's $12 million in the company is now worth $100 million.

JPMorgan Securities LLC and Deutsche Bank Securities Inc. are the joint bookrunning managers for the offering. They have a 30-day option to purchase an additional 817,105 shares to cover overallotments.

SodaStream is based at Airport City, near Ben Gurion Airport.

Published by Globes [online], Israel business news - www.globes-online.com - on November 3, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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