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Aerohive Announces Pricing of Initial Public Offering

Aerohive Networks, Inc. announced today the pricing of its initial public offering of 7,500,000 shares of its common stock at a price to the public of $10 per share. In addition, Aerohive has granted the underwriters a 30-day option to purchase up to 1,125,000 additional shares of common stock from Aerohive at the initial public offering price. The shares are expected to begin trading on the New York Stock Exchange on March 28, 2014 under the symbol “HIVE.”

Goldman, Sachs & Co. and BofA Merrill Lynch are acting as joint book-running managers for the offering. Piper Jaffray & Co., William Blair & Company, LLC, JMP Securities LLC and Stephens Inc. are acting as co-managers for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on March 27, 2014. The offering will be made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained, when available, from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by e-mail at [email protected]; or from BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, New York, NY 10038, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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