Home > All insights > Mobile Network Software Maker MAVENIR Decreased Proposed IPO Size to $275 Million
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Mobile Network Software Maker MAVENIR Decreased Proposed IPO Size to $275 Million

Esther Thin

Mavenir Private Holdings II Ltd, a mobile network software maker, has filed Amendment No 4 to Form S-1 Registration Statement on October 26, 2020 with the U.S. Securities and Exchange Commission to decrease the proposed IPO size to 275 million.

The company now plans to raise $275 million by offering 12.5 million shares at the price range of $20 to $24. Previously the company proposed to raise 300 million by offering 13.6 million shares.

The company created software that allows Wireless Service Providers to meet the needs of enterprise and consumer customers. These software solutions are deeply embedded in the Wireless Service Provider networks to securely deliver and operate complex, mission-critical mobile services.

The Richardson, Taxes-based company was founded in 2005 and booked $462 million in revenue for the 12 months ended July 31, 2020. It plans to list on the Nasdaq Global Market under the symbol “MVNR.” Morgan Stanley, Goldman Sachs, J.P. Morgan, BofA Securities, Barclays, Guggenheim Securities and Macquarie Capital are underwriters of the IPO.

The company engages Sidley Austin LLP as US Securities Counsel, and Kesselman & Kesselman as Independent Auditor.

#ipo #nasdaq #mavenir #software #WirelessServiceProviders




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