Tech IPOs see the light: Acacia Communications sets terms for $99 million IPO

Tech IPOs see the light: Acacia Communications

(renaissance capital) Acacia Communications, which provides low-power, high-speed interconnect modules for optical networks, announced terms for its IPO on Monday.

The Maynard, MA-based company plans to raise $99 million by offering 4.5 million shares at a price range of $21 to $23. At the midpoint of the proposed range, Acacia Communications would command a fully diluted market value of $889 million. 

Acacia Communications was founded in 2009 and booked $276 million in sales for the 12 months ended March 31, 2016. It plans to list on the Nasdaq under the symbol ACIA. Goldman Sachs, BofA Merrill Lynch and Deutsche Bank are the joint book runners on the deal. It is expected to price during the week of May 9, 2016.

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