Carbonite 2011 Annual Report Download - page 37

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Table of Contents
Use of Proceeds
On August 10, 2011, our registration statement on Form S-1 (File No. 333-174139) was declared effective for our initial public offering. On
August 16, 2011, we closed our initial public offering of 7,187,500 shares of common stock at an offering price of $10.00 per share, of which 6,303,973
shares were sold by us, including 937,500 shares pursuant to the underwriters’ option to purchase additional shares, and 883,527 shares were sold by
selling stockholders. The underwriters of the offering were Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, William
Blair & Company, L.L.C., Canaccord Genuity Inc., Oppenheimer & Co. Inc., and Pacific Crest Securities Inc. Following the sale of the shares in
connection with the closing of our initial public offering, the offering terminated.
As a result of the offering, including the underwriters’ option to purchase additional shares, we received net proceeds of $55.6 million, after
deducting total expenses of $7.4 million, consisting of underwriting discounts and commissions of $4.4 million and offering-related expenses of $3.0
million. None of such payments were direct or indirect payments to any of the Company’
s directors or officers or their associates, to person owning 10%
or more of our common stock, or to any of our affiliates.
The net proceeds to us from our initial public offering have been invested in money market accounts and government and government agency
securities.
There has been no material change in the planned use of proceeds from our initial public offering as described in our prospectus filed with the
Securities and Exchange Commission pursuant to Rule 424(b) under the Securities Act.
You should read the following selected consolidated financial and other data below in conjunction with “Management’s Discussion and Analysis
of Financial Condition and Results of Operations” and the consolidated financial statements, related notes, and other financial information included in
this Annual Report on Form 10-
K. The selected consolidated financial and other data in this section are not intended to replace the consolidated financial
statements and are qualified in their entirety by the consolidated financial statements and related notes included elsewhere in this Annual Report on
Form 10-K.
The consolidated statements of operations data for the years ended December 31, 2011, 2010 and 2009 and the consolidated balance sheets data as
of December 31, 2011 and 2010 are derived from our audited consolidated financial statements included elsewhere in this report. The consolidated
statements of operations data for the years ended December 31, 2008 and 2007 and the consolidated balance sheets data as of December 31, 2009, 2008
and 2007 are derived from our audited consolidated financial statements not included in this Annual Report on Form 10-K. Historical results are not
necessarily indicative of the results to be expected in the future.
34
ITEM 6.
SELECTED CONSOLIDATED FINANCIAL AND OTHER DATA