SOURCE: Data Domain

October 23, 2007 16:00 ET

Data Domain, Inc. Announces Intent to File Registration Statement for Underwritten Common Stock Offering

SANTA CLARA, CA--(Marketwire - October 23, 2007) - Data Domain, Inc. (NASDAQ: DDUP) today announced that it intends to file a registration statement with the Securities and Exchange Commission for an underwritten offering of approximately 8,500,000 shares of its common stock. The shares of common stock expected to be sold in the offering will include approximately 4,000,000 shares to be sold by Data Domain and approximately 4,500,000 shares to be sold by certain existing stockholders of Data Domain. In addition, Data Domain and the selling stockholders expect to grant the underwriters of the offering an option to purchase additional shares of common stock constituting up to fifteen percent of the total number of shares offered.

Data Domain and the selling stockholders have not yet made a final determination regarding the aggregate size of the offering, but will do so based on market conditions and other factors at the time of the offering. Data Domain intends to file the registration statement by the end of this month and anticipates completing the public offering prior to the end of 2007. However, there can be no assurance as to whether or when the offering will be completed or its exact size.

Data Domain intends to use the net proceeds it receives from the offering for working capital and other general corporate purposes. Data Domain will not receive any proceeds from the sale of shares by the selling stockholders.

No registration statement relating to the securities described above has yet been filed with the Securities and Exchange Commission. This announcement 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.


This press release contains forward-looking statements that involve risks and uncertainties, including regarding: our intention to file a registration statement relating to a proposed underwritten offering of common stock; the expected size of such offering; the anticipated date that the registration statement would be filed; and the expected completion date for the offering. Our actions and the actions of the selling stockholders, and the anticipated outcomes, could differ materially from the actions and the outcomes expressed or implied by these forward-looking statements due to risks and uncertainties including: general political, economic and market conditions and events; developments in our business; whether the Securities and Exchange Commission elects to review the registration statement that we intend to file; and investment decisions by the selling stockholders over which we have no control.

All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements.

Note: Data Domain, the Data Domain logo and Global Compression are trademarks or registered trademarks of Data Domain, Inc. All other trademarks used or mentioned herein belong to their respective owners.

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