BigBand Strikes Up IPO12/26/2006 6:04 AM Eastern
BigBand Networks registered with the Securities and Exchange Commission for an initial public offering, AP reported.
The Redwood City, Calif.-based company didn't disclose how many shares will be offered, nor did it provide an estimated price range, but it did say that the IPO could be worth up to $140 million in common stock, according to AP.
BigBand told AP it intends to use the net proceeds from the IPO to repay about $14 million in debt and for working capital, capital expenditures, acquisitions and other general corporate purposes, adding that it plans to list its stock on the NASDAQ Exchange under the symbol BBND.
Morgan Stanley, Merrill Lynch, Jefferies & Co., Cowen & Co. and ThinkEquity Partners were listed as underwriters for the offering, AP reported.
BigBand develops platforms that enable cable operators and telephone companies to offer video, voice and data services across networks.