Acacia Communications completed its initial public offering (IPO) on May 13, 2016, on the Nasdaq under the ticker symbol ACIA. The company priced its shares at $23 each and raised over $100 million in the offering.
Key IPO Details
- Listing Date: May 13, 2016
- Exchange: Nasdaq
- Ticker Symbol: ACIA
- IPO Price: $23.00 per share
- Opening Day Performance: The stock surged significantly, opening at $29 per share and closing at just under $31, marking an approximate 35% increase in its first day.
Company Background and Acquisition
Prior to its acquisition, Acacia Communications designed and manufactured high-speed, optical-networking and interconnect products used by cloud infrastructure operators and content providers.
- Acquisition by Cisco: On March 1, 2021, Acacia Communications was officially acquired by networking giant Cisco Systems, Inc. for $115 per share in a deal valued at approximately $4.5 billion.
- Delisting: Following the completion of the acquisition in 2021, Acacia was delisted from the Nasdaq and operates as a wholly-owned subsidiary of Cisco.
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