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Entropic Raises $41M in IPO

Shares in Entropic Communications Inc. climbed 23 percent to close at $7.40 on Dec. 7, their first day of trading.

The company raised $41.3 million in its initial public offering late Dec. 6, selling 8 million shares at $6 apiece. The balance of the sale proceeds went toward fees and expenses.

Shares went out at the low end of the $6 to $8 range Entropic forecast. Previously, the company wanted to sell shares in the $9 to $11 range.

Entropic makes semiconductors for home networking.

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Underwriters were Credit Suisse Securities, Lehman Brothers Inc., Thomas Weisel Partners, JMP Securities and ThinkEquity Partners.

Entropic trades on Nasdaq as ENTR.

, Brad Graves

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