NEW YORK-Airspan Networks Inc., a British designer of fixed wireless communications systems, went public on Nasdaq July 19, raising $82.5 million in an offering of 5.5 million shares priced at $15 each.
Credit Suisse First Boston was lead manager of the deal, which was increased above the 5 million shares anticipated in the Securities and Exchange registration. The share price also came higher than the expected range of $12-$14.
Airspan, headquartered in Uxbridge, England, uses the Code Division Multiple Access standard in its antennas, terminals and base stations. The company, which outsources manufacturing to Flextronics International, San Jose, Calif., also makes network planning, configuration and management products.
Formerly known as Airspan Communications, the company originated as a unit of DSC Communications, which Alcatel Alsthom acquired.
Airspan’s primary competitors are Lucent Technologies Inc., Nokia Corp. and Nortel Networks.
