Calix, a provider of last-mile equipment, came one step closer to being a public company by announcing today that it will offer its common stock in an initial public offering for $13.00 per share. In the IPO, Calix is offering 4,166,666 shares of common stock and other selling stockholders are offering 2,162,266 shares of common stock.
Participating underwriters, which include Goldman Sachs & Co and Morgan Stanley, have the option to buy up to an additional 949,339 shares of common stock. Company shares will begin trading on the New York Stock Exchange under the symbol "CALX" on March 24.
Since the company was founded by Mike Hatfield in late 1990s--a serial entrepreneur that helped found the former AFC (now Tellabs), Cerent (now Cisco) and more recently Cyan Networks--Calix has found a sizeable niche for itself selling its fiber and copper-based access gear mainly to U.S.-based tier 2 telcos including CenturyLink and Windstream. In 2009, Calix reported revenue of $232.9 million, a seven percent decline over 2008.
For more:
- see the release here
- Reuters also has this article
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