Tuesday, August 14, 2007

NitroSecurity Files for IPO to Raises up to $55 Million - Portsmouth, NH

NitroSecurity, a Portsmouth-based provider of hardware and software products for security monitoring, analysis and protection of computer networks, has filed with the Securities and Exchange Commission for its initial public offering of stock to raise an estimated $55 million. NitroSecurity sells its products to medium and large-size companies in a range of industries and government agencies. The company's revenue increased by approximately $340,000 million, or 83%, to $750,000 in the three months ended March 2007. Its net loss was approximately $10.4 million in 2006 and $2.1 million for the three months ended March 2007. Among NitroSecurity's main investors are Brookline Venture Partners and entities affiliated with First Analysis Corp.



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