Carbonite IPO prices at $10 -underwriter

NEW YORK Wed Aug 10, 2011 5:10pm EDT

NEW YORK Aug 10 (Reuters) - Carbonite, which sells Web-based computer backup products, priced shares in its initial public offering at the bottom of a lowered range on Wednesday, according to an underwriter.

The company and its owners priced 6.25 million shares at $10 each, raising about $62.5 million. The company on Wednesday lowered its expected price range to $10 to $11 per share from $15 to $17 per share. (Reporting by Clare Baldwin)