SOURCE: Compellent Technologies

Compellent Technologies

November 12, 2009 16:30 ET

Compellent Announces Proposed Public Offering

EDEN PRAIRIE, MN--(Marketwire - November 12, 2009) - Compellent Technologies, Inc. (NYSE: CML) today announced that it filed a registration statement with the Securities and Exchange Commission for an underwritten offering of 3,000,000 shares of its common stock. The shares of common stock expected to be sold in the offering include 300,000 shares to be sold by Compellent and 2,700,000 shares to be sold by existing stockholders of Compellent. Compellent will not receive any proceeds from the sale of shares by the selling stockholders. Compellent expects to grant the underwriters of the offering an option to purchase additional shares of common stock constituting up to 15 percent of the total number of shares offered. There can be no assurance as to whether or when any such offering would be commenced or completed or as to the actual size or terms of any such offering.

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

The offering will be made only by means of a prospectus. A preliminary prospectus related to the offering may be obtained, when available, 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 or Piper Jaffray & Co. Attention: Prospectus Department, 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402, telephone: (612) 303-8290 or email:

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement is declared effective.

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

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, MN.