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LogMeIn IPO prices for $16, at top of range-source

Tue Jun 30, 2009 6:38pm EDT

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NEW YORK, June 30 (Reuters)- Software maker LogMeIn Inc (LOGM.O) priced shares in its initial public offering on Tuesday for $16, at the top of its estimate range, a source with direct knowledge of the deal said.

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The Woburn, Massachusetts company, whose backers include chipmaker Intel Corp (INTC.O), sold 6.7 million shares, raising $106.7 million, the source said, in the 11th IPO of 2009 in the United States.

In a regulatory filing, LogMeIn said it expected its IPO would price between $14 and $16 per share.

The IPO was led by JP Morgan Chase & Co (JPM.N) and Barclays Capital Plc (BARC.L), who have the option to buy up to another 1 million shares to cover over-allotments.

LogMeIn's shares are set to begin trading on Wednesday on the Nasdaq Global Market under the symbol "LOGM." (Reporting by Phil Wahba; editing by Andre Grenon)

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