Remember that whole 'going public' idea? Apparently, it's still on
It's been nine months, so you'd be forgiven if you forgot that NeoPhotonics Corp. (NYSE: NPTN) had filed to go public. It's now looking like the IPO might actually happen.
The company's latest S-1 amendment, filed with the Securities and Exchange Commission (SEC) on Tuesday, is the first to cite details of the planned offering. Neophotonics plans to offer 7 million shares at $9 to $11 apiece.
Why this matters
Optical IPOs are rare, and while Inphi Corp. did well going public last year, it's got a franchise in PC memory-interface chips. NeoPhotonics will test investors' taste for a more purely optical company.
It's an exit that's been long in coming for NeoPhotonics (founded in 1996, changed its name in 2002, went through bankruptcy in 2003). An acquisition doesn't seem likely, given the company's size and diversity.
Interestingly, NeoPhotonics might finally (and suddenly) be getting profitable. For the first nine months of 2010, the company reported net income of $2.8 million on revenue of $132.9 million.
For more
Signs of financial life in the optical components world:
Finisar Goes on a Spree
The JDSU Question (Again)
Inphi Files for an IPO
Optical Exits
Optical Firm Preps Hong Kong IPO
NeoPhotonics Readies Its IPO
— Craig Matsumoto, West Coast Editor, Light Reading
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