Shoretel shares shore up after delayed IPO
The Sunnyvale, Calif.-based VoIP vendor, Shoretel Monday raised $75 million, pricing its public offering of 7.9 million shares at $9.50 each. That was one dollar less than its postponed pricing last Wednesday. Underwriters have a 30-day option to purchase up to an additional 1.2 million shares, according to a company statement.
Pricing still fell within the anticipated range of $8.50 to $10.50.
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