May 13, 2010
Sunnyvale, Calif. — May 13 , 2010 — TeleNav, Inc. (NASDAQ:TNAV), a provider of location based services, or LBS, including voice guided navigation, on mobile phones, today announced the pricing of the initial public offering of 7,000,000 shares of common stock at a price to the public of $8.00 per share. The shares will begin trading on the NASDAQ Global Market on May 13, 2010 under the ticker symbol “TNAV.” Of the shares of common stock in the offering, TeleNav is offering 5,500,000 shares and selling stockholders are offering 1,500,000 shares. In addition, TeleNav has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock from TeleNav, solely to cover over-allotments, if any.
J.P. Morgan Securities Inc. and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering. Robert W. Baird & Co. Inc., Canaccord Genuity Inc., Piper Jaffray & Co. and Pacific Crest Securities LLC are acting as co-managers.
A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on May 13, 2010. This offering is being made solely by means of a prospectus, copies of which may be obtained from: J.P. Morgan Securities Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department; or by contacting Deutsche Bank Securities Inc., Attn: Prospectus Department, 100 Plaza One, Jersey City, New Jersey 07311, telephone: (800) 503-4611 or e-mail at email@example.com.
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 an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
TeleNav, Inc. Investor Relations Contact: Cynthia Hiponia The Blueshirt Group Tel: 408.990.1265 IR@telenav.com
TeleNav, Inc. is a leading provider of consumer location-based services (LBS), enterprise LBS and automotive LBS. TeleNav’s solutions provide consumers, wireless service providers, enterprises and automakers with location-specific, real-time, personalized services such as GPS navigation, local search, mobile advertising, mobile commerce, location tracking and workflow automation. TeleNav’s technology is available across more than 500 types of mobile phones, all major mobile phone operating systems and a broad range of wireless network protocols. TeleNav’s service providers and partners include Alltel, AT&T, Bell Mobility, Boost Mobile, China Mobile, Ford Motor Company, NII Holdings, Rogers, Sprint Nextel, T-Mobile UK, T-Mobile USA, Telcel, Verizon Wireless and Vivo Brazil.Back to Press Release Index