Quantenna Communications, which sells next-generation semiconductor chipsets for high-speed Wi-Fi networks, announced terms for its IPO on Monday.
The Fremont, CA-based company plans to raise $101 million by offering 6.7 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Quantenna Communications would command a fully diluted market value of $574 million.
Quantenna Communications was founded in 2005 and booked $105 million in sales for the 12 months ended June 30, 2016. It plans to list on the Nasdaq under the symbol QTNA. Morgan Stanley, Barclays and Deutsche Bank are the joint bookrunners on the deal. It is expected to price during the week of October 24, 2016.
