If anyone can get their hands on this one, more power to ya! HOT!!
Friday January 14, 6:40 pm Eastern Time
Avanex sets IPO at 6 mln shares, $13-$15 a share
WASHINGTON, Jan 14 (Reuters) - Avanex Corp., creator and maker of photonic processors that are designed to boost the performance of optical networks, said on Friday it plans to net $76.1 million from its planned initial public offering.
The company, based in Fremont, Calif., said it will sell six million shares in a projected range of $13-$15 a share, according to an amended prospectus filed with the Securities and Exchange Commission that revealed the offering details for the first time.
Avanex said it would use the funds raised in the IPO for general corporate purposes including capital spending and working capital.
After the offering, there will be approximately 62.5 million shares outstanding in the company, putting its initial market capitalization at about $875 million based on the middle $14 a share initial price.
The processors the company makes offering communications service providers and optical systems manufacturers greater levels of performance and miniaturization, reduced complexity and increased cost-effectiveness, the company said.
The underwriters, led by Morgan Stanley Dean Witter and Lehman Brothers, have been allotted 900,000 extra shares to purchase in the event of heavy demand.
The company has applied to list its shares on Nasdaq under the symbol ``AVNX' (NasdaqSC:AVNX - news) once it goes public. |
