(RTTNews) - Fortinet, Inc., a provider of network security and Unified Threat Management appliances, in an amendment to a Form S-1 filing made with the regulatory, disclosed that it anticipates initial public offering of 12 million shares to be priced between $9.00 and $11.00 per share.

The Sunnyvale, California-based company said it is offering 5.78 million shares and the selling stockholders are offering 6.22 million shares. The company also announced the grant of right to underwriters to buy up to an additional 1.80 million shares to cover over-allotments

Fortinet said it had applied to have its common stock listed on the Nasdaq Global Market under the symbol "FTNT".

The company said in the filing that its Directors and Executive Officers own a total of 59% stake. Ken Xie owns 18.1% and Michael Xie holds 14.2%, while John Walecka owns 15.3%. David Tsang holds 5.5% of the shares.

Entities affiliated with Redpoint Ventures have 15.2% stake, and Entities affiliated with Meritech Capital hold 10.8%.

For the nine-months ended September 30, 2009, the company reported Total revenue of $181.40 million and net income attributable to common stockholders of $6.97 million.

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