SOURCE: Compellent, Inc.

Compellent, Inc.

November 23, 2009 17:27 ET

Compellent Announces Closing of Public Offering and Exercise of Over-Allotment Option

EDEN PRAIRIE, MN--(Marketwire - November 23, 2009) - Compellent Technologies, Inc. (NYSE: CML) today announced the closing of its public offering of 3,840,000 shares of its common stock at a price of $19.25 per share, which includes the exercise in full by the underwriters of their option to purchase up to 500,000 additional shares of common stock from Compellent. The shares of common stock sold in the offering include 600,000 shares sold by Compellent and 3,240,000 shares sold by existing stockholders.

Morgan Stanley & Co. Incorporated and Piper Jaffray & Co. acted as joint book-running managers of the offering. Thomas Weisel Partners LLC, Needham & Company, LLC, Pacific Crest Securities LLC, Merriman Curhan Ford & Co., and Craig-Hallum Capital Group acted as co-managers.

A final prospectus related to the offering may be obtained from the prospectus department of Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, telephone: (866) 718-1649, or by emailing prospectus@morganstanley.com or Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402, telephone: (612) 303-8290 or email: prospectus@pjc.com

A registration statement relating to these securities was filed with, and was declared effective by, the Securities and Exchange Commission. This offering is being made solely by means of a prospectus. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Company's common stock, nor shall there be any sale of the common stock in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Compellent

Compellent is a leading provider of enterprise-class network storage solutions that are highly scalable, feature-rich and designed to be easy to use and cost effective. Compellent Technologies' principal offices are located in Eden Prairie, Minn.