Entropic Communications Inc., a San Diego-based provider of home networking for digital entertainment, raised $48 million in its IPO. The company priced eight million common shares being at $6 per share, which was the low end of an already-reduced offering range. Its initial market cap is approximately $405 million. Entropic will trade on the Nasdaq under ticker symbol ENTR, while Credit Suisse and Lehman Brothers served as co-lead underwriters.
The company had raised over $75 million in total VC funding since 2001, from firms like Anthem, CMEA, Comcast, Revolution, Cisco Systems, Intel Capital, Liberty Associated Partners, Mission Ventures, Motorola Ventures, Panasonic Ventures, Redpoint Ventures, Time Warner and YAS Broadband Ventures. www.entropic.com