Mavenir to price initial public stock sale between $15.00 and $17.00

Morgan Stanley, BofA Merrill Lynch, Deutsche Bank are bookrunners

By Devika Patel

Knoxville, Tenn., Oct. 24 - Mavenir Systems, Inc. will sell 4,670,292 common shares in its initial public offering with a greenshoe of 720,000 additional shares, according to a Form S-1/A filed Thursday with the Securities and Exchange Commission. The company also reported that selling shareholders will sell 129,708 shares in the deal. The offering was announced on Oct. 4.

The shares are expected to be sold at a price between $15.00 and $17.00 per share.

Morgan Stanley, BofA Merrill Lynch and Deutsche Bank Securities are the joint bookrunning managers. Needham & Co. is the co-manager.

Proceeds will be used for working capital and other general corporate purposes.

Based in Richardson, Texas, the company is a provider of software-based telecommunications networking solutions that enable mobile service providers to deliver internet protocol-based voice, video rich communications and enhanced messaging services to their subscribers globally. The company intends to list its common stock on the New York Stock Exchange under the symbol "MVNR."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.