BOSTON, Nov. 9, 2005 – iRobot Corporation today announced its initial public offering of 4,300,000 shares of stock at $24 per share. The underwriting syndicate was led by Morgan Stanley & Co. Incorporated and J.P. Morgan Securities Inc., who acted as joint book-running managers. First Albany Capital Inc., Needham & Company LLC, and Adams Harkness Inc. acted as co-managers. iRobot's shares now trade on the NASDAQ National Market under the symbol "IRBT."
iRobot designs robots that perform dull, dirty or dangerous missions in a better way. The company's proprietary technology incorporates advanced concepts in navigation, mobility, manipulation and artificial intelligence. This proprietary system enables iRobot to build behavior-based robots, including its family of consumer and military robots.
Mark Bettencourt led the team of Goodwin Procter LLP lawyers who advised iRobot in connection with the offering.