Chipmaker MaxLinear Sets IPO Price Range
MaxLinear, a wireless chip design company that filed for an IPO in November, will offer 5.43 million shares of its stock at between $11 and $13 a share, according to Renaissance Capital. The Carlsbad, CA-based company, which will trade on the New York Stock Exchange under the ticker symbol MXL, was founded in 2003. The IPO’s lead underwriters are Morgan Stanley and Deutsche Bank Securities. MaxLinear raised about $35 million from VCs and other investors. San Diego’s Mission Ventures holds about 13 percent, Menlo Park, CA-based U.S. Venture Partners has nearly 22 percent, Battery Ventures holds almost 14 percent and Sunnyvale, CA-based UMC Capital has 7 percent.