Tekelec Goes Public, Offers 900,000 Shares

The stock of Tekelec, a Calabasas-based maker of telecommunications test equipment, was offered to the public for the first time Friday at $12.25 a share. The stock’s price closed at $10.75 Monday.

Of the 1 million shares offered, 900,000 were issued by the company to raise money to buy equipment, make office improvements, pay bank debt and handle other needs. The other 100,000 shares were sold by three of the firm’s officers and one of its directors.