Vocera Communications, Inc., a provider of mobile communication solutions focused on addressing critical communication challenges facing hospitals, announced the pricing of its initial public offering of 5.85 million common shares at $16.00 per share, above its estimated offering price range.
Vocera is offering 5 million shares of common stock and selling stockholders are offering 850 thousand shares of common stock.
In an amended regulatory filing with the U.S. Securities and Exchange Commission on March 13, the company had estimated pricing between $12.00 and $14.00 per share. The company had originally planned to offer 5.75 million shares.
The San Jose-based company said that its shares will trade on the New York Stock Exchange under the symbol "VCRA."
In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to 877,500 additional shares of common stock at the initial public offering price to cover over-allotments.
Vocera expects to use offering net proceeds for general corporate purposes, including repayment of outstanding borrowings under credit facility and working capital. The company may also use portion of proceeds to buy or invest in complementary businesses, technologies or assets. Vocera said that it will not receive any proceeds from shares sale by selling stockholders.
J.P. Morgan Securities LLC and Piper Jaffray & Co. are acting as joint book-running managers for the offering. Robert W. Baird & Co., William Blair & Company, Wells Fargo Securities and Leerink Swann are acting as co-managers.
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