Ubiquiti Networks (UBNT), which provides wireless networking solutions to carriers in underserved markets, is the only IPO on this week's IPO calendar. The company plans to raise $148 million by offering 7 million shares at a price range of $20 to $22. At the mid-point of the proposed range, Ubiquiti Networks will command a market value of $2 billion.
Ubiquiti Networks, which was founded in 2005, booked $198 million in sales over the last 12 months. The San Jose, CA-based company plans to list on the NASDAQ under the symbol UBNT. UBS Investment Bank, Raymond James, and Deutsche Bank Securities are the lead underwriters on the deal.
Ubiquiti Networks plans to be the first US IPO to price since Tudou (TUDO), one of China's two leading online video websites, priced in mid-August. Ubiquiti, along with medical device producer-ZELTIQ Aesthetics (ZLTQ) which plans to price next week, will serve as a test for investor appetite after a two month long IPO drought.