Acacia offers $450M in stock
The Maynard headquarters of Acacia Communications at Clock Tower Place is one of four company locations, with the others in California, New Jersey and Ireland.
Maynard’s Acacia Communications is cashing in on its success with a public stock offering priced at $100 for 4,500,000 shares of common stock following a $104 million initial public offering.
The offering was priced last week and consists of 1,210,302 shares from Acacia Communications and 3,289,698 shares from certain existing stockholders, according to a release from the company. At the height of trading on Sept. 23, the stock reached a value of $119.34 a share. In the last few days, the stock has been trading slightly above $90.
Acacia Communications intends to use proceeds from the offering, roughly $121 million, for working capital and general corporate purposes. Acacia Communications will not receive any of the proceeds from any sale of shares by the selling stockholders.
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