Business

Cambium Networks to launch IPO

Posted June 13, 2019 1:00 am

ROLLING MEADOWS - Cambium Networks Corp. announced it plans to go public with an initial public offering of 5.8 million shares of common stock.

The developer of wireless broadband networking infrastructure and spinoff company of Motorola said the IPO price is expected to be between $13 and $15 per share. IPO underwriters will also have a 30-day option to purchase from Cambium up to 870,000 additional shares, the companyb said in a statement.

Cambium has applied to list its ordinary shares on the Nasdaq Global Market under the symbol "CMBM."

J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC will be the main managers for the offering and as representatives of the underwriters. Deutsche Bank Securities Inc. will act as a book-running manager for the offering. Raymond James & Associates, Inc., JMP Securities LLC and Oppenheimer & Co. Inc. will act as co-managers for the offering.

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