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Infinera IPO Soars On First Trading Day

Friday, June 8, 2007 5:00:00 AM PDT | VentureDeal Staff
SUNNYVALE, CA -- Chip maker Infinera (Nasdaq:INFN) opened for trading on Thursday to close at $19.70, a 52% premium to its opening price of $13 a share.  The company raised $182 million in the offering, before fees.

Infinera makes a large scale photonic integrated circuit that it claims can send and receive information at 100 gigabits per second. 

The company's venture investors were advanced Equities Investments and Kleiner Perkins Caufield & Byers.  The company said it may repay part of its existing credit facility with the net proceeds.

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