Tuesday, May 1, 2007

Cavium Networks Rises 22% in IPO

Cavium Networks, which offers processors for networking, communications and security applications, completed an initial public offering of 6,750,000 shares of its common stock. The offering was priced at $13.50 per share.

Cavium Networks' common stock is listed on the NASDAQ Global Market under the symbol "CAVM."

Trading closed on Wednesday, May 2, 2007 at $16.45 -- up 22% for the first day.

Morgan Stanley & Co. Incorporated and Lehman Brothers Inc. acted as joint book-running managers for the offering, with Thomas Weisel Partners LLC, Needham & Company, LLC and JMP Securities LLC serving as co-managers.

Cavium Networks offers a broad portfolio of integrated, software compatible processors ranging in performance from 10 Mbps to 10 Gbps that enable secure, intelligent functionality in enterprise, data-center, broadband & consumer and access & service provider equipment.