▁executive ▁from ▁Intel ▁Corporation ▁and ▁Sun ). ▁Ne iman ▁became ▁the ▁first ▁CE O ▁of ▁the ▁company . ▁Bro cade ▁was ▁incorpor ated ▁on ▁May ▁ 1 4 , ▁ 1 9 9 8 , ▁in ▁Del aware . ▁ ▁The ▁company ' s ▁first ▁product , ▁Sil k W orm , ▁which ▁was ▁a ▁F ib re ▁Channel ▁switch , ▁was ▁released ▁in ▁early ▁ 1 9 9 7 . ▁ ▁On ▁May ▁ 2 5 , ▁ 1 9 9 9 , ▁the ▁company ▁went ▁public ▁at ▁a ▁split - ad just ed ▁price ▁of ▁$ 4 . 7 5 . ▁On ▁initial ▁public ▁offering ▁( IP O ), ▁the ▁company ▁offered ▁ 3 , 2 5 0 , 0 0 0 ▁shares , ▁with ▁an ▁additional ▁ 4 8 7 , 5 0 0 ▁shares ▁offered ▁to ▁the ▁under writ ers ▁to ▁cover ▁over - all ot ments . ▁The ▁top ▁three ▁under writ ers ▁( based ▁on ▁number ▁of ▁shares ) ▁for ▁Bro cade ' s ▁IP O ▁were , ▁in ▁order , ▁Morgan ▁Stanley ▁Dean ▁W itter , ▁B T ▁Alex . B rown , ▁and ▁D ain ▁R aus cher ▁W ess els . ▁Bro cade ▁stock ▁trad ed ▁in ▁the ▁National ▁Market ▁System ▁of ▁the ▁NAS DA Q ▁G S ▁stock ▁market ▁under ▁the ▁t icker ▁symbol ▁BR CD . ▁A ▁second ▁generation ▁of ▁switch es ▁was ▁announced ▁in ▁ 1 9 9 9 . ▁ ▁On ▁January ▁ 1 4 , ▁ 2 0 1