Xtera Communications, which provides optical transport systems for long-haul terrestrial/submarine networks, raised $25 million by offering 5 million shares at $5, as anticipated by a filing earlier Thursday. The company had originally planned to sell 5.5 million shares at a price of $9-$11 before cutting the terms. Insiders indicated an interest in purchasing $9 million (36% of the deal).
The company plans to list on the NASDAQ under the symbol XCOM. Needham, Cowen and BMO were the underwriters on the offering.
