Airvana Prices Low IPO

Airvana Inc., a Chelmsford, Mass.-based provider of network infrastructure products used by wireless carriers to provide mobile broadband services, raised $58.1 million through its IPO. The company priced 8.3 million common shares at $7 per share ($8-$10 range), which gives it an initial market cap of $443.59 million. It will trade on the Nasdaq under ticker symbol AIRV, while Morgan Stanley and Lehman Brothers served as co-lead underwriters. Airvana raised around $81 million in total VC funding since 2000, from firms like Matrix Partners and Qualcomm.