SoundBite Prices IPO to Raise $41.6 Million - Bedford, MA

SoundBite Communications, a Bedford-based provider of on-demand automated voice messaging technology, has priced its initial public offering of stock to raise a total of $41.6 million. The company sold about 4.7 million share priced at $8, while certain stockholders sold another 485,000 shares at that price. SoundBite said that it intends to use its net proceeds of the offering for working capital and other general corporate purposes, including the repayment of outstanding debt. Shares in SoundBite were trading unchanged at $8 as of mid-afternoon on Friday.

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