Mitel Networks (Nasdaq:MITL), a leading provider of IP-based communications solutions, today announced the pricing of its initial public offering of 10,526,316 common shares at a price to the public of US$14.00 per share.
All of the shares to be sold in the offering are to be sold by Mitel. Mitel common shares are expected to begin trading on April 22, 2010 on The NASDAQ Global Market under the symbol "MITL". The underwriters have a 30-day option to purchase up to an additional 1,578,947 common shares at the public offering price from certain selling shareholders to cover overallotments, if any. Mitel will not receive any proceeds from the sale of such shares, if any, by selling shareholders.
The offering was made through an underwriting syndicate led by BofA Merrill Lynch, J.P. Morgan, and UBS Investment Bank, who acted as joint book-running managers. Piper Jaffray, Genuity Capital Markets, and JMP Securities acted as co-managers for the offering.
A copy of the final prospectus relating to the offering may be obtained by contacting BofA Merrill Lynch, Attn: Prospectus Department, 4 World Financial Center, New York, NY 10080, email: Prospectus.Requests@ml.com; J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, NY 11717, Telephone: (631) 254-1735; or UBS Investment Bank, Attn: Prospectus Dept., 299 Park Avenue, New York, NY 10171, Telephone: (888) 827-7275.
The Canadian offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the Canadian prospectus may be obtained from Merrill Lynch Canada Inc., c/o BofA Merrill Lynch, Attn: Prospectus Department, 4 World Financial Center, New York, NY 10080, email: Prospectus.Requests@ml.com; J.P. Morgan Securities Canada Inc., c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, NY 11717, Telephone: (631) 254-1735; or UBS Securities Canada Inc., c/o UBS Investment Bank, Attn: Prospectus Dept., 299 Park Avenue, New York, NY 10171, Telephone: (888) 827-7275. Investors should read the prospectus before making an investment decision.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state, province or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province or jurisdiction.
Mitel Networks offers a comprehensive portfolio of IP-based communications solutions, which consists of IP telephony platforms, unified communications and collaboration applications and managed and network services. By integrating voice, video and data communications with business applications, Mitel enables businesses to improve their performance. Mitel is a leader in the market evolution to unified communications and collaboration, enabling customers to move beyond basic fixed telephony and disparate communications tools toward integrated multi-media communications and collaboration between users, wherever they may be located. Mitel's U.S. headquarters are in Phoenix, Arizona. Global headquarters are in Ottawa, Canada, with offices, partners, and resellers worldwide.
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SOURCE: Mitel Networks Corporation
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