Tech IPOs have been picking up newly and one lesser-known semiconductor company, Aquantia, done its entrance on the New York Stock Exchange today.
The company lifted $61 million in its offering, after pricing shares at $9.00. It sealed the day of trade at $9.51.
The San Jose, California-based company describes itself as “a personality in the design, growth and selling of modernized high-speed communications integrated circuits, or ICs, for Ethernet connectivity in the information center, craving infrastructure and entrance markets.”
Revenue for last year was $86.7 million. This compares to $80.8 million the year before. Losses for last year were just $445,000, down from about 10 million in 2015.
Intel and Cisco are its largest customers. Competitors embody Broadcom and Marvell.
Aquantia had perceived at slightest $185 million in appropriation before to its IPO given it was founded in 2004. This includes investments from obvious names like Cisco, New Enterprise Associates, Lightspeed Venture Partners and Greylock Partners.
Here’s a demeanour at the company’s first day of trading.
Featured Image: Aquantia