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UPDATE 1-DynaVox to raise up to $150 mln in IPO of Class A shrs
April 8, 2010 / 7:38 PM / 8 years ago

UPDATE 1-DynaVox to raise up to $150 mln in IPO of Class A shrs

* Expects price to be $15-$17 per share

* To offer 9.4 million Class A shares

April 8 (Reuters) - DynaVox Inc said it expects proceeds of up to $150 million from its initial public offering of Class A common shares.

The Delaware-based company expects to offer 9.4 million shares at $15 to $17 apiece.

Following the offering, the Class A common stockholders will own 100 percent of the economic interests in DynaVox and have 31.7 percent of the voting power, the company said in a filing with the U.S Securities and Exchange Commission.

The holders of Class B common stock will have the remaining 68.3 percent of the voting power of DynaVox.

DynaVox develops and markets software, devices and content to assist people in overcoming their speech, language or learning disabilities.

The company has applied for listing its common stock on Nasdaq under the symbol “DVOX”. (Reporting by Brenton Cordeiro in Bangalore; Editing by Ratul Ray Chaudhuri)

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