Xtera Communications, which provides optical network infrastructure for long-haul terrestrial and submarine networks, announced terms for its IPO on Monday.
The Allen, TX-based company plans to raise $55 million by offering 5.5 million shares at a price range of $9 to $11. At the midpoint of the proposed range, Xtera Communications would command a fully diluted market value of $183 million.
Xtera Communications, which was founded in 2000 and booked $50 million in sales for the 12 months ended June 30, 2015, plans to list on the Nasdaq under the symbol XCOM. Needham, Cowen and BMO Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of November 2, 2015.
