NEW YORK, Feb 6 (Reuters) - AlphaSmart Inc., which makes computer products for schools, said on Friday it priced its initial public offering of 4.4 million shares at $6 per share -- below its estimated range.
AlphaSmart previously said it expected the IPO priced between $8 and $10 per share.
AlphaSmart said it will sell 4 million common shares and some stockholders -- including Summit Partners, a private equity and venture capital firm -- will sell another 400,000 shares. The company will not receive any proceeds from the sale by stockholders.
Jefferies & Co., William Blair & Co., and Legg Mason Wood Walker are underwriting the IPO and have an option to purchase up to 660,000 shares from selling stockholders to cover any over-allotments.
Los Gatos, California-based AlphaSmart said it applied for a Nasdaq listing under the symbol ALSM (ALSM).
Other Alphasmart news
NEW YORK, Feb 6 (Reuters) - AlphaSmart Inc., which makes computer products for schools, said on Friday it priced its initial public offering of 4.4 million shares at $6 per share -- below its estimated range.
AlphaSmart previously said it expected the IPO priced between $8 and $10 per share.
AlphaSmart said it will sell 4 million common shares and some stockholders -- including Summit Partners, a private equity and venture capital firm -- will sell another 400,000 shares. The company will not receive any proceeds from the sale by stockholders.
Jefferies & Co., William Blair & Co., and Legg Mason Wood Walker are underwriting the IPO and have an option to purchase up to 660,000 shares from selling stockholders to cover any over-allotments.
Los Gatos, California-based AlphaSmart said it applied for a Nasdaq listing under the symbol ALSM (ALSM).