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Introductory price: Broadband device maker Casa Systems prices IPO below original range at $13

December 14, 2017
CASA

Casa Systems, a leading provider of software-centric CCAP products to broadband network operators, raised $78 million by offering 6.0 million shares at $13, as expected. Casa disclosed its new terms in a filing on Thursday; it had originally planned to raise $134 million by offering 8.4 million shares at a range of $15 to $17. Casa Systems plans to list on the Nasdaq under the symbol CASA. Morgan Stanley and Barclays acted as lead managers on the deal.