Thursday, March 16, 2006

Ikanos Raises $48 Million in Stock Offering

Ikanos Communications priced a common stock offering of 2,500,000 shares sold by Ikanos and 3,250,000 shares sold by certain selling stockholders at a public offering price of $20.75 per share. As a result of the offering, Ikanos is expecting to receive estimated net proceeds of approximately $47.8 million. The offering is expected to close on March 22, 2006, subject to customary conditions. The selling stockholders have granted the underwriters an option to purchase up to 862,500 additional shares of common stock to cover over-allotments.

Citigroup Global Markets Inc. and Lehman Brothers Inc. acted as the joint book-running managers for the offering. Deutsche Bank Securities Inc., Thomas Weisel Partners LLC and Needham & Company, LLC acted as co-managers.

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