By midmorning, shares had taken off 13.4% to $1.88.
The wireless communications specialist said it would offer 5.265 million shares of common stock at $1.90 a share. The underwriters have also been granted a 45-day option to purchase up to 789,750 shares.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts