Boston, MA - June 22, 2004 - Color Kinetics Incorporated (Nasdaq: CLRK) today announced the pricing of its initial public offering of 4,000,000 shares of its common stock at $10 per share. All of the shares are being offered by Color Kinetics. Color Kinetics' common stock is expected to begin trading on the Nasdaq National Market on June 22, 2004 under the symbol "CLRK."
The managing underwriters of the offering are CIBC World Markets Corp. and Needham & Company, Inc., acting as joint lead managers, Friedman, Billings, Ramsey & Co., Inc. and ThinkEquity Partners LLC. Color Kinetics has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock to cover over-allotments, if any.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on June 22, 2004. Copies of the final prospectus related to the offering may be obtained, when available, from CIBC World Markets Corp., 425 Lexington Avenue, New York, NY 10017, telephone number: (212) 856-4000.
About Color Kinetics
Color Kinetics Incorporated is a pioneer in the design, marketing and licensing of intelligent solid-state lighting systems. The company's award-winning product lines apply the practical and aesthetic benefits of LEDs to transcend the limits of traditional light sources for use in high-performance lighting and OEM and licensing applications. Its products and technologies leverage a patented layer of digital intelligence, called Chromacore®, to generate and control millions of colors and dynamic lighting effects. Color Kinetics holds 28 patents and has over 115 patent applications pending that apply to many aspects of solid-state lighting technology. Founded in 1997, the company is headquartered in Boston, MA with offices in the UK, China, and a joint venture in Japan.