NeoPhotonics, which designs photonic integrated circuit based modules for high-speed communications networks, announced terms for its IPO on Tuesday. The San Jose, CA-based company plans to raise $70 million by offering 7 million shares at a price range of $9-$11. At the mid-point of the proposed range, NeoPhotonics will command a market value of $230 million. NeoPhotonics, which was founded in 1996 and booked $176 million in sales for the 12 months ended September 30, 2010, plans to list on the NYSE under the symbol NPTN. BofA Merrill Lynch and Deutsche Bank Securities are the lead underwriters on the deal, which is expected to price during the week of January 31.
