Ikanos Communications announces plans for public offering of stock

Proceeds to be used for working capital, general purposes, capex

By Angela McDaniels

Tacoma, Wash., Aug. 23 - Ikanos Communications, Inc. plans to conduct a public offering of common stock, according to an S-1 filing with the Securities and Exchange Commission.

Roth Capital Partners, LLC is the bookrunner. It will be granted an over-allotment option.

The company plans to use the proceeds for working capital and general corporate purposes and for capital expenditures. In addition, it may use a portion of the proceeds to acquire complementary businesses, technologies or other assets.

The company's stock closed at $1.26 (Nasdaq: IKAN) on Friday.

Ikanos is based in Fremont, Calif. It makes semiconductors and integrated firmware for the digital home.

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