A Richardson software company serving the mobile wireless network industry expects to raise up to $376 million in an initial stock offering.
Mavenir is pricing its shares at $20 to $24, according to a regulatory filing Wednesday with the U.S. Securities and Exchange Commission. It registered 15.7 million shares for sale.
At a midpoint of $22 a share, the IPO would give Mavenir a market value of $1.9 billion, according to Renaissance Capital.
The company provides “carrier-grade” software and tech for wireless service providers, including those building out 5G networks. Its tech suite specifically allows wireless providers to leverage existing 3G and 4G networks to make cost-effective transitions to 5G.
Mavenir’s fiscal 2019 revenue grew nearly 9% from the previous year and is up 17% through the first half of this year, according to its regulatory filing. It topped $427 million in revenue last year.
Its client base includes the three largest U.S. wireless companies and about 250 others.
Formerly known as Mavenir Systems, the company went public in 2013 and was acquired by Mitel in 2015 for $560 million. It was then rebranded as Mitel Mobile and sold to Xura in 2016. Xura was in turn acquired by Siris Capital, which merged the company with Ranzure and Mitel Mobile in 2017 and rebranded the new company as Mavenir.
Mavenir plans to trade on Nasdaq under the ticker symbol MVNR. Renaissance Capital said its shares could begin trading next week.