Mavenir Systems sets terms for $77 million IPO

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Mavenir Systems, which provides telecommunications software and solutions to wireless carriers, announced terms for its IPO on Thursday. The Richardson, TX-based company plans to raise $77 million by offering 4.8 million shares (3% insider) at a price range of $15 to $17. At the midpoint of the proposed range, Mavenir Systems would command a fully diluted market value of $412 million.

Mavenir Systems, which was founded in 2005 and booked $82 million in sales for the 12 months ended June 30, 2013, plans to list on the NYSE under the symbol MVNR. Mavenir Systems initially filed confidentially on December 20, 2012. Morgan Stanley, BofA Merrill Lynch and Deutsche Bank are the joint bookrunners on the deal.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

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