NEW YORK-Endwave Corp., a Sunnyvale, Calif., provider of radio-frequency subsystems, went public Oct. 16 on Nasdaq with an offering of 6 million shares of stock, priced at $14, the midpoint of its expected $13-$15 range.
Customers of Endwave are systems integrators that provide broadband wireless equipment used for cellular backhaul and point-to-point and point-to-multipoint access applications. These systems integrators include Allgon, Hughes Network Systems, Nokia Corp., Nortel Networks, P-Com, Rockwell International, Toshiba America and WinNet MCS.
“Competition in the market for RF subsystems for broadband wireless access systems is intense,” Endwave said.
Proceeds of the sale will be used for general corporate purposes, including working capital.
