Infinera IPO yields $182 million

Infinera raised $182 million in the initial public offering of its stock, surpassing expectations.

The optical switch maker offered 14 million shares at $13 per share. Last month it reported expecting to sell the shares for $10 to $12 per share, raising less than $140 million.

After discounts for underwriters, the proceeds to Infinera were more than $169 million. The offering was underwritten by Goldman Sachs, Citigroup, JPMorgan, Lehman Brothers and Thomas Weisel Partners.

In addition to repaying some of its debt, Infinera said it would use the capital for general corporate purposes and working capital, to fuel growth, develop new products or “to expand our existing business through acquisitions of other businesses, products or technologies.”

Since its founding in 2000, Infinera has raised $315 million in private equity funding.