Nearly five months after announcing it would go public, ShoreTel Inc. on Tuesday priced its shares at $9.50 apiece.
The enterprise IP phone systems provider is offering 7.9 million shares of common stock. It is trading on the Nasdaq Global Market under the ticker SHOR.
ShoreTel also has given underwriters 30 days to buy up to 1.185 million more shares if they so choose.
The company is the latest IP firm to try its luck on Wall Street. Veraz Networks IPO didnt go as well as hoped, and Vonage Holdings Corp., after losing a patent infringement lawsuit to Verizon Communications Inc., has watched its stocks flounder in the $3 range.