UANI

“Wireless equipment maker Ubiquiti Networks Inc broke a two-month drought in the U.S. IPO market on Thursday pricing shares in its initial public offering at the low end of the expected range… Ubiquiti, whose shares will trade on Nasdaq under the stock symbol UBNT.O, makes wireless networking and video surveillance equipment. It said in its prospectus that certain of its products were sold to Iran, Cuba, Syria, the Sudan and North Korea and that some of its encryption components were sold without the appropriate export authorization… A review of Ubiquiti's sales to Iran by the Department of Commerce's Office of Export Enforcement earlier this year resulted in a warning letter, but no criminal or administrative prosecution or other penalties -- but Ubiquiti remains under review by the Department of the Treasury's Office of Foreign Assets Control.” (Reuters, "Ubiquiti breaks US IPO drought amid Iran controversy," 10/13/2011)

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"UBNT believes its products have been sold into Iran by third parties." (Seeking Alpha, "IPO Preview: Ubiquiti Networks," 10/7/2011)