GAITHERSBURG, MD, June 16, 2010 - BroadSoft, Inc. today announced that its initial public offering of 7,500,000 shares of its common stock has been priced at $9.00 per share. A total of 5,048,131 shares are being offered by BroadSoft, and a total of 2,451,869 shares are being offered by selling stockholders. In addition, BroadSoft and the selling stockholders have granted the underwriters a 30-day option to purchase an aggregate of up to an additional 1,125,000 shares. BroadSoft's shares of common stock are expected to begin trading today on the NASDAQ Global Market under the symbol "BSFT."
Goldman, Sachs & Co. will act as lead book-running manager for the offering, with Jefferies & Company, Inc. acting as joint book-running manager. Cowen and Company, LLC and Needham & Company, LLC are the co-managers of the offering. Any offer or sale will be made only by means of a prospectus, copies of which may be obtained from the prospectus department of Goldman, Sachs & Co., 200 West Street, New York, NY 10282, Attention: Prospectus Department, phone: 866-471-2526.
A registration statement relating to the shares of common stock of BroadSoft has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any such state or jurisdiction.
BroadSoft is the leading global provider of software that enables fixed-line, mobile and cable service providers to deliver voice and multimedia services over their IP-based networks. The Company's software, BroadWorks®, enables its service provider customers to provide enterprises and consumers with a range of cloud-based, or hosted, IP multimedia communications, such as hosted IP private branch exchanges, video calling, unified communications, collaboration and converged mobile and fixed-line services.
BroadSoft and BroadWorks are registered trademarks of BroadSoft, Inc. All other names are trademarks of their respective owners.