Acacia Communications (ACIA) IPO Opens Up 26%

Today's IPO for Acacia Communications (NASDAQ: ACIA) opened for trading at $29 after pricing 4,500,000 shares of its common stock at a price of $23.00 per share, the high end of the expected $21-$23 range.

Acacia Communications intends to use proceeds from the offering 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.

Goldman, Sachs & Co., BofA Merrill Lynch and Deutsche Bank Securities Inc. are acting as joint bookrunners for the offering, and Needham & Company LLC, Cowen and Company, LLC and Northland Securities, Inc. are acting as co-managers.

Acacia Communications develops, manufactures and sells high-speed coherent optical interconnect products that are designed to transform communications networks through improvements in performance, capacity and cost. By converting optical interconnect technology to a silicon-based technology, a process Acacia refers to as the "siliconization of optical interconnect," Acacia is able to offer products that meet the needs of cloud and service provider customers in a simple, open, high-performance form factor that can be easily integrated in a cost-effective manner with existing network equipment

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