WASHINGTON-Telephone services provider CallWave Inc. will sell 4 million shares of common stock at $9 to $11 per share at its initial public offering, according to documents the company filed with the U.S. Securities and Exchange Commission Monday.
CallWave, a Santa Barbara, Calif.-based company that helps bridge communications among wireless phones, landline phones and computers, expects to raise about $35.7 million during the offering. According to the filing, the company earned $11.5 million on revenues of $38.9 million in fiscal year 2004, marking its second straight profitable year.
Underwriters Deutsche Bank Securities, Piper Jaffray, First Albany Capital and W.R. Hambrecht & Co. will have the option to purchase up to 600,000 additional shares to cover over-allotments during the offering.
CallWave has applied to be listed on the Nasdaq exchange with a symbol of “CALL.”
