ANDOVER, Mass., April 26, 2018 (GLOBE NEWSWIRE) -- Casa Systems, Inc. (NASDAQ:CASA), a provider of software-centric solutions for next generation centralized, distributed and virtualized architectures for cable broadband, fixed-line broadband and wireless networks, today announced the pricing of its follow-on public offering of 7,350,000 shares of common stock at a public offering price of $25.00 per share, before underwriting discounts and commissions. All of the shares are being offered by certain stockholders of the company. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,102,500 shares of common stock at the public offering price, less underwriting discounts and commissions. The company will not receive any of the proceeds from the sale of shares by the selling stockholders.
The offering is expected to close on or about April 30, 2018, subject to customary closing conditions.
Morgan Stanley & Co. LLC and Barclays Capital Inc. are acting as joint book-running managers for the offering, with Raymond James & Associates, Inc. and Stifel, Nicolaus & Company, Incorporated, acting as passive book-runners, and Macquarie Capital (USA) Inc., Northland Securities, Inc. and William Blair & Company, L.L.C. acting as co-managers.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on April 25, 2018. Copies of the registration statement can be accessed by visiting the Securities and Exchange Commission website at www.sec.gov.
This offering is being made only by means of a prospectus. A copy of the preliminary prospectus relating to the offering has been filed with the Securities and Exchange Commission and forms a part of the effective registration statement. A copy of the final prospectus relating to the offering will be filed with the Securities and Exchange Commission and may be obtained, when available, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or Barclays Capital Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 888-603-5847 or by email at email@example.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.
About Casa Systems
Casa Systems, Inc. (NASDAQ:CASA) provides software solutions that enable cable broadband, fixed broadband, and wireless providers to meet the growing demand for gigabit bandwidth and services. We provide a suite of software-centric infrastructure solutions that allow cable service providers to deliver voice, video and data services over a single platform at multi-gigabit speeds. In addition, we offer solutions for next-generation centralized, distributed and virtualized architectures for cable, fixed telecom and wireless networks. Our solutions are commercially deployed in over 70 countries serving more than 450 customers, including regional broadband service providers as well as some of the world’s largest Tier 1 broadband service providers.
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Source: Casa Systems, Inc.