Return to search

Neutral Tandem Sets IPO Terms

Neutral Tandem Inc., a Chicago-based provider of tandem interconnection services to competitive carriers, has set its IPO terms to around 6.65 million common shares being offered at between $11 and $13 per share. It would have an initial market cap of approximately $384 million, were it to price at the high end of its range. The company plans to trade on the Nasdaq under ticker symbol TNDM, with Morgan Stanley and CIBC World Markets serving as co-lead underwriters. It has raised around $29 million in VC funding from firms like DCM-Doll Capital Management, New Enterprise Associates, Mesirow Capital Partners, Montagu Newhall Associates and Wasatch Venture Fund.