PCTel was a leading developer and supplier of cost-effective, software-based connectivity solutions for data transmission in a wide range of communications environments. The Company’s solutions enable high speed internet access and other communications applications through broadband and wireless and other networks.
Prior to the Company’s IPO at $17 per share, PCTel had been funded by a number of individual investors. Less than six months later, the Company’s initial backers were able to sell most of their holdings at $46.50 per share. PCTel received a portion of the proceeds for its own working capital.
A principal of Carter Morse & Mathias acted as a managing underwriter on PCTel’s follow on public offering.