Airvana Prices IPOAirvana Prices IPO

CHELMSFORD, Mass. -- Airvana, Inc. (Nasdaq:AIRV) today announced the pricing of its initial public offering of 8,300,000 shares of common stock at a price to the public of $7.00 per share. All of the 8,300,000 shares being sold in the offering are being sold by Airvana. In addition, Airvana has granted the underwriters a 30-day option to purchase up to an additional 1,245,000 shares to cover over-allotments, if any. Airvana's common stock is expected to begin trading on the NASDAQ Global Market on Friday, July 20, 2007 under the symbol "AIRV."

Morgan Stanley & Co. Incorporated acted as the sole book-running lead manager for the offering. Lehman Brothers Inc. acted as joint-lead manager, and Deutsche Bank Securities Inc. and UBS Investment Bank acted as co-managers for the offering.

The offering is made only by means of a prospectus, copies of which may be obtained by contacting Morgan Stanley & Co. Incorporated, 180 Varick Street, New York, New York 10014; Attention: Prospectus Department or by email at [email protected].

Airvana Inc.