Scopus Video Networks filed over the weekend a draft prospectus for an initial public offering (IPO) on the Nasdaq, with the intent of raising approximately $50 million, the company said in a statement. According to the prospectus, Scopus will sell up to 4.5 million shares at a price of between $10m. and $12m. per share, while the underwriters will have a 30-day option to buy a further 675,000 shares.Thomas Weisel Partners LLC will act as sole book-runner for the offering and CIBC World Markets will act as co-lead manager. Needham & Company, LLC and Oppenheimer & Co. will act as co-managers.
Scopus Video Networks develops digital video networking products that enable network operators to offer advanced video services to their subscribers.