Comverge Sets IPO Terms

Comverge Inc., an East Hanover, N.J.-based provider of hardware and software to utilities, has set its IPO terms to around 4.89 million common shares being offered at between $15 and $17 per share. It plans to trade on the Nasdaq under ticker symbol COMV, with Citigroup serving as lead underwriter. The company has raised nearly $40 million in VC funding from firms like Nth Power, EnerTech Capital Partners, Rockport Capital Partners, Norsk Hydro Ventures, Ridgewood Capital, Easton Hunt, Data Systems & Software Inc., Air Products & Chemicals Inc. and Partners for Growth.