Casa Systems, which provides high-throughput edge devices to broadband network providers, announced terms for its IPO on Monday.
The Andover, MA-based company plans to raise $134 million by offering 8.4 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Casa Systems would command a fully diluted market value of $1.5 billion.
Casa Systems was founded in 2003 and booked $333 million in sales for the 12 months ended September 30, 2017. It plans to list on the Nasdaq under the symbol CASA. Morgan Stanley and Barclays are the joint bookrunners on the deal. It is expected to price during the week of December 11, 2017.
