Telecom equipment supplier Calix announced today that it has raised $100M in new financing. The total will include both $50M in equity from its current investors and another $50M in debt from Silicon Valley Bank. It's a substantial move for Calix amidst capital markets that are friendlier than they were 6 months ago, but are nevertheless still quite unfriendly.
Calix is clearly preparing its balance sheet for the coming stimulus funds. Their products focus on the access segment of the market, especially in rural markets. Come to think of it, Calix may be one of the companies with the most to gain from the stimulus package. Hence, since so many of their existing customers are applying for funding of various access projects, they will need to make more boxes quickly in order to meet demand. An extra $100M in the coffers should help them ramp up production, eh?Financials · Telecom Equipment