San Jose-Based Nextest Systems Raises $75.6 Million in IPO; Stock Jumps 22%

San Jose, Calif. -- Shares of Nextest Systems rose 22% on Wednesday -- their first day of trading after the San Jose-based company raised $75.6 million in its initial public offering (IPO). The company sold 4 million shares, with current stockholders selling another 1.4 million, for $14 each, the lower end of the company's $14-$16 estimate. The company, which makes equipment to test computer chips used in consumer electronics devices, said that it will use the proceeds for working capital and capital expenditures, including ghte possible expansion of its facilities. Listed on the Nasdaq National Market under the symbol "NEXT," the company's shares climbed $3.10 on Wednesday to close at $17.10.
http://www.nextest.com/
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