Friday, July 13, 2007

Airvana Plans IPO Priced at Between $8 and $10 a Share - Chelmsford, MA

Airvana, a Chelmsford-based provider of network infrastructure products used by wireless operators to provide mobile broadband services, has filed with the Securities and Exchange Commission for its initial public offering of stock. The company indicated that it plans to sell 8.3 million shares, priced at between $8 and $10. Airvana's software and hardware products, which are based on Internet Protocol technology, allow wireless networks to deliver broadband-quality multimedia services to mobile phones, laptop computers and other mobile devices. In the first quarter of fiscal 2007, the company's cash flow from operating activities was $61.2 million and its operating loss was $21.5 million. The company employs about 400 engineers.


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