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Casa Systems Prices IPO Of 6 Mln Shares At $13/share

Casa Systems, Inc., a provider of software-centric solutions for cable, wireless and wireline broadband providers, late Thursday said it has priced its initial public offering of 6 million shares of its common stock at $13 per share, before underwriting discounts and commissions.

In addition, Casa has granted the underwriters a 30-day option to purchase up to 900,000 additional shares of common stock from Casa at the public offering price.

All of the shares are being offered by Casa. The shares are scheduled to begin trading on Nasdaq on December 15 under the ticker symbol "CASA."

Summit Partners, Casa's largest stockholder and a venture capital firm that one of Casa's directors, Bruce Evans, is a Managing Director of, has indicated an interest in purchasing up to 250,000 shares in the offering. But in no event an amount that would have the effect of Summit Partners being the beneficial owner of 50% or more of Casa's outstanding shares following the offering, the company noted.

In addition, Casa's President and Chief Executive Officer, Jerry Guo, has indicated an interest in purchasing up to 100,000 shares in the offering.

The offering is expected to close on December 19 subject to customary closing conditions.

Morgan Stanley & Co. LLC and Barclays Capital Inc. are acting as joint book-running managers for the offering.

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