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Casa Systems closes IPO

Casa Systems Inc. closed its initial public offering of 6.9 million shares of its common stock at $13 a share.

The offering included an additional 900,000 common shares issued upon the exercise in full by the underwriters of their overallotment option, according to a Dec. 19 news release.

The company received $89.7 million in gross proceeds. Casa's shares began trading on The Nasdaq Global Select Market on Dec. 15.

Morgan Stanley and Barclays Capital were the joint book-running managers for the offering. Raymond James & Associates Inc., Stifel, Nicolaus & Co. Inc., Macquarie Capital (USA) Inc., Northland Securities Inc. and William Blair & Co. LLC acting as co-managers.