Nov 30 (Reuters) – Jive Software Inc, which provides social networking software to businesses, said it expects its initial public offering of up to 11.7 million shares to be priced between $8 and $10 apiece.
In August, the Palo Alto, California-based company had filed with the U.S. Securities and Exchange Commission to raise up to $100 million in the IPO.
Jive, which plans to use a part of the proceeds to repay debt, expects to list its stock on Nasdaq under the symbol “JIVE”.
Sequoia Capital and its affiliates have about 35 percent stake in the company.
The underwriters to the offering are led by Morgan Stanley and Goldman Sachs.
The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO can be different.
Backers include Sequoia and KPCB.
Jonathan Marino contributed additional reporting to this story.