REDWOOD CITY, Calif.-Phone.com Inc., formerly Unwired Planet, announced it has commenced with its initial public offering of 4 million shares of common stock, priced at $16 a share.
Shares began trading on the Nasdaq National Market Friday.
An underwriting group managed by Credit Suisse First Boston Corp. is handling the offering. The group is co-managed by Hambrecht & Quist L.L.C., BancBoston Robertson Stephens Inc. and U.S. Bancorp Piper Jaffray Inc.
In addition to the 4 million shares offered to the public, Phone.com has granted options to buy another 600,000 to the underwriters to cover any over-allotments.
