SoundBite Sets IPO Terms

SoundBite Communications Inc., a Burlington, Mass.-based provider of on-demand automated voice messaging solutions, has set its proposed IPO terms to six million common shares being offered at between $12 and $14 per share. It would have an initial market cap of approximately $210 million, were it to price at the high end of its range. Soundbite plans to trade on the Nasdaq under ticker symbol SDBT, with Cowen & Co. and Thomas Weisel Partners serving as co-lead underwriters.  The company has raised around $30.4 million in VC funding since 2000, from firms like North Bridge Venture Partners (46.1% pre-IPO stake), Mosaic Venture Partners (20.8%), Commonwealth Venture Capital (16.4%) and Venture Capital Fund of New England (9.9%).