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Stock impact report

Broadband business Casa Systems up 11%, following downsized IPO [TechCrunch Blog]

Casa Systems, Inc. (CASA) 
Last casa systems, inc. earnings: 4/30 04:05 pm Check Earnings Report
Company Research Source: TechCrunch Blog
Hi! Andover, Massachusetts-based Casa Systems had a tough time pulling off its IPO this week. The broadband solutions company initially wanted to debut Thursday, but pushed its launch back to Friday, likely due to weak initial demand. Casa had planned to sell 8.4 million shares, but reduced it to 6 million, following the investor roadshow, where companies pitch institutional investors and other IPO buyers. The IPO was slated to price between $15 to $17 per share, but it priced at $13, raising $78 million versus the $134.4 million it would have raised at the midpoint of the range at the original deal size.  But on a better note, the stock bounced up almost 11% from its $13 IPO price, closing the day at $14.40. Here’s how Casa describes its business in its IPO filing : “We provide a suite of software-centric infrastructure solutions that allow cable service providers to deliver voice, video and data services over a single platform at multi-gigabit speed Show less Read more
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