BigBand Networks prices IPO shares at $13, to start trading today
BigBand Networks, a Redwood City, Calif. provider of routers for broadband networks, has priced its initial public offering shares at $13 per share, allowing it to raise $139 million.
It will offer 10.7 million shares for trading, which begins today.
This is the first IPO for Redpoint Ventures, a seven-year-old venture capital firm that was an early backer of Bigband, and owns 22.5 percent of the company.
Other major shareholders include Charles River Partners (19 percent), Meritech Capital (8.5 percent), Evergreen Partners (5.9 percent), Pilot House Ventures, (5.6 percent) and Cedar Funds (4.4 percent).
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