BroadSoft prices IPO at $9-$11 apiece
(Reuters) - Internet communications company BroadSoft Inc said it priced its initial public offering of 7.5 million shares at $9 to $11 apiece.
The Gaithersburg, Maryland-based company said in a filing it expects net proceeds of about $44.7 million based on an assumed issue price of $10 per share, after expenses.
BroadSoft, which sells software that enables voice and multimedia Internet communications, also said the IPO would include a sale of 2.45 million shares by the shareholders.
In March, the company had filed with the U.S. regulators to raise up to $103.5 million in an initial public offering.
Major shareholders include funds associated with Bessemer Venture Partners, Grotech Partners and Charles River Ventures.
The underwriters are being led by Goldman Sachs & Co and Jefferies & Co.
The company has applied to list its common shares on Nasdaq under the ticker symbol "BSFT."
(Reporting by Abhinav Sharma in Bangalore; Editing by Vyas Mohan)
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