RVBD » Topics » NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

This excerpt taken from the RVBD 10-K filed Feb 15, 2008.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

STYLE="margin-top:12px;margin-bottom:0px">1.    ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

SIZE="2">Organization

Riverbed Technology, Inc. was founded on May 23, 2002 and has developed a comprehensive solution to the fundamental
problems of wide-area distributed computing. Our products enable our customers simply and efficiently to improve the performance of their applications and access to their data over wide area networks (WANs).

STYLE="margin-top:18px;margin-bottom:0px">Public Offerings

In September 2006, we completed our initial public
offering, or IPO, of common stock in which we sold and issued 9,990,321 shares of our common stock, including 1,290,321 shares sold by us pursuant to the underwriters’ exercise of their over-allotment option, at an issue price of $9.75 per
share. We raised a total of $97.4 million in gross proceeds from the IPO, or approximately $87.5 million in net proceeds after deducting underwriting discounts and commissions of $6.8 million and other offering costs of $3.1 million. Upon the
closing of the IPO, all shares of convertible preferred stock outstanding automatically converted into 39,441,439 shares of common stock.

In
February 2007, we completed a follow-on public offering of common stock in which we sold and issued 2,854,671 shares of our common stock, including 250,000 shares sold by us pursuant to the underwriters’ partial exercise of their over-allotment
option, at an issue price of $32.50 per share. As a result of the offering, we raised a total of $92.8 million in gross proceeds, or approximately $87.7 million in net proceeds after deducting underwriting discounts and commissions of $4.2 million
and other offering costs of $0.9 million.

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