Aquantia, which is a fabless provider of 10 Gigabit Ethernet ICs, announced terms for its IPO on Monday.
The San Jose, CA-based company plans to raise $75 million by offering 6.8 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Aquantia would command a fully diluted market value of $385 million.
Aquantia was founded in 2004 and booked $94 million in sales for the 12 months ended June 30, 2017. It plans to list on the NYSE under the symbol AQ. Morgan Stanley, Barclays and Deutsche Bank are the joint bookrunners on the deal. It is expected to price during the week of October 30, 2017.
