News

19 April 2010

 

Neophotonics files for $115m IPO on New York Stock Exchange

NeoPhotonics Corp of San Jose, CA, USA has filed a registration statement with the US Securities and Exchange Commission (SEC) for an initial public offering of up to $115m shares of common stock (to be listed on the New York Stock Exchange under the ticker symbol ‘NPTN’).

Founded as NanoGram Corp in October 1996 before changing name in 2002, the firm’s principal stockholders are funds affiliated with Oak Investment Partners, Draper Fisher Jurvetson, Concord Investments Co, ATA Ventures and International Finance Corp.

NeoPhotonics is a developer and vertically integrated manufacturer of photonic integrated circuit (PIC)-based components, modules and subsystems for bandwidth-intensive, high-speed communications networks. Products include active semiconductor, passive PLC (photonic lightwave circuit) and MEMS (micro-electro-mechanical system) multi-dimensional switching functions in a single product, with integration enabled by nanomaterials and nanoscale design and fabrication technologies. The firm has ISO 9001:2000 certified engineering and manufacturing facilities in both Silicon Valley and Shenzhen, China.  In 2009, revenue was $155m and net loss was $6.8m.

NeoPhotonics says that the rapid growth of bandwidth-intensive content, including HD and 3D video, music, social networking, video conferencing and other multimedia, is driving the demand for high-bandwidth products.

The firm says that it plans to use the net proceeds of the IPO for working capital, to continue to expand its existing business (including possibly acquiring complementary businesses, products, services or technologies) , and for general corporate purposes.

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Visit: www.neophotonics.com