The IPO market continues to struggle.
Broadsoft (BSFT), a Gaithersburg, Maryland-based provider of voice over IP software, this morning priced an offering of 7.5 million shares at $9, at the low end of the previous target range of $9-$11 a share. Of the shares being sold, 2.45 million are from selling holders.
The company’s investors include Bessemer Venture Partners, Grotech Partners and Charles River Ventures. Underwriters of the deal are led by Goldman Sachs and Jefferies.
The deal is not being well received: BSFT has dropped 92 cents, or 10.2% from the IPO price, to $8.08.
No comments:
Post a Comment