August 10, 2011 / 9:11 PM / 6 years ago

Carbonite IPO prices at $10 -underwriter

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)

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