Tuesday, October 30, 2007
Entropic Prices IPO
San Diego-based Entropic Communications said in a filing with the SEC today that it will sell 10,000,000 shares of its common stock at between $9.00 and $11.00 per share. The firm, which has applied to list on the Nasdaq under the symbol ENTR, is looking to raise up to $110M in its offering. Entropic's IPO is being underwritten by Credit Suisse, Lehman Brothers, Thomas Weisel Partners, JMP securities, and ThinkEquity Partners. Major investors in the firm include CMEA Ventures, Redpoint Ventures, Focus Ventures, Granite Ventures, Mission Ventures, Motorola, The Dow Employee Pension Plan, and Cisco. Entropic is a developer of semiconductors used to connect home entertainment devices, based on MoCA (Multimedia over Coax Alliance) networking standard.