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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