GAITHERSBURG, MD -Broadsoft, which sells VoIP application software to the telecom industry, priced 7.5 million shares of its initial public offering of stock at $9 each, the low end of its $9-$11 offering range to raise about $67.5 million, giving it an initial market cap of approximately $221 million.
It will trade on Nasdaq under the symbol “BSFT.”
The venture-backed company raised about $76 million from investors who include Bessemer Venture Partners, Grotrech Ventures, Charles River Ventures, Columbia Capital, RRE VEntures, Crescendo Ventures and Meritech Capital Partners.
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