The offering of $13 per share was above the forecast price range, giving a company value of $743 million.
BigBand Network Inc. has raised $139 million in its Nasdaq IPO. The company issued 10.7 million shares at $13 per share, above the predicted price range of $10-12. The offering gives a company value of $743 million. The company issued 7.5 million shares, while shareholders sold 3.2 million shares.
The company will be traded under the ticker BBND.
Lead underwriters Morgan Stanley and Merrill Lynch & Co. have a green shoe option to buy 1.6 million shares, which, if exercised, will boost the value of the IPO by $20 million. Secondary underwriters were Cowan and Company and Thinkequity Partners.
BigBand president and CEO Amir Bassan-Eskenazi and executive VP and CTO Ran Oz founded the company in 1998. Nine years later, the company sells products to six of the ten largest service providers in the US, according to the company’s prospectus.
Published by Globes [online], Israel business news - www.globes.co.il - on March 15, 2007
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