LONDON RF and mixed-signal broadband communications IC provider MaxLinear Inc. (Carlsbad, Calif.) priced its initial public offering of 6,444,100 shares of Class A common stock at a price to the public of $14.00 per share.
The shares began trading on the New York Stock Exchange on Wednesday (March 24) under the ticker symbol "MXL" and quickly jumped to $18.50 before settling back.
Of the shares of Class A common stock in the offering, MaxLinear is offering 5,148,059 shares and selling stockholders are offering 1,296,041 shares. In addition, MaxLinear and the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 966,614 shares of Class A common stock, with up to an additional 771,469 shares to be sold by MaxLinear and up to an additional 195,145 shares to be sold by the selling stockholders, solely to cover over-allotments, if any.
Morgan Stanley & Co. Incorporated and Deutsche Bank Securities Inc. are acting as joint book-running managers for the offering. UBS Securities LLC, Thomas Weisel Partners LLC, and Needham & Company, LLC are acting as co-managers.