Shoretel sets terms for IPO
ShoreTel, a Sunnyvale, Calif. a seller of IP telecom systems to large businesses, has set its proposed IPO terms.
It plans to issue 7.9 million common shares at between $8.5 and $10.5 per share, valuing it as high as $433 million when accounting for outstanding options.
Shoretel raised more than $100 million in VC funding over the last decade since its founding, from firms like Crosspoint Venture Partners (27.9 percent), Foundation Capital (20.4 percent), Lehman Brothers Venture Partners (22.7 percent), JPMorgan Capital (5.3 percent), Focus Ventures, Globespan Capital Partners, Matrix Partners and Norwest Venture Partners.
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About the Author, Matt Marshall
Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.
