Entropic Drops Offering Range In IPO

San Diego-based Entropic Communications, a developer of semiconductors for networking home electronics, said in a filing with the SEC this morning that it has dropped its offering range in its IPO to between $6.00 and $8.00 per share. The firm had originally planned to sell its stock at $9.00 and $11.00 per share. The firm will sell 8 million shares of its stock, which will net it approximately $48.8M. Entropic is venture backed by CMEA Ventures, Redpoint Ventures, Focus Ventures, Granite Ventures, and Mission Ventures. Entropic is looking to trade as “ENTR" on the Nasdaq Global Market.