Breeze Wireless Communications Ltd., an Israeli manufacturer of wireless local loop equipment, debuted on the Nasdaq stock exchange March 23 with a 5-million share initial public offering of stock priced at $20 each.
BreezeCom, headquartered in Tel Aviv, incorporates spread spectrum modulation into its multipoint and point-to-point packet switching technologies to enable high-speed broadband Internet and intranet connections.
CIBC World Markets lead-managed the IPO, which had an anticipated price range of $15-$17 when the company registered the planned offering with the Securities and Exchange Commission in late February.
A day before going public, BreezeCom raised the expected price to a range of $17-$19. The company also increased the number of shares offered to 5 million from the 4.5 million that the company originally planned.
BreezeCom has three primary product lines: BreezeNET wireless Ethernet for local area networks; BreezeLINK wireless point-to-point, providing a high-speed wireless voice and data modem; BreezeACCESS for wireless local loop and point-to-multipoint wireless Internet.
The BreezeACCESS product line operates in the 2.4 GHz unlicensed Industrial, Scientific and Medical band and in the 3.4 to 4.2 GHz licensed radio frequencies.
“Broadband WLL is a promising and attractive solution for access needs due to several factors, including quick deployment (and) lower infrastructure construction … and operating costs than most traditional wireline alternatives,” the company said.
“Such a solution can take advantage of integrating voice over Internet Protocol with a wireless packet data system, while also allowing for optimization of the network to support high-speed IP services simultaneously with toll quality telephony access.”
