Veraz Prices Below Range

Veraz Networks Inc., a San Jose, Calif.-based provider of VoIP products to wireline and wireless service providers, priced 9 million common shares at $8 per share (below $10-$12 range), for an IPO take of approximately $72 million. It will trade on the Nasdaq under ticker symbol VRAZ, while Lehman Brothers and Credit Suisse served as co-lead underwriters. Shareholders include ECI Telecom (27.6% post-IPO stake), Norwest Venture Partners (10.8%), Battery Ventures (9.1%), Argonaut Private Equity (8.8%), Liberty Mutual (6.4%) and Levensohn Venture Partners (5.9%). Of those firms, only ECI Telecom sold shares in the IPO (2.25 million shares).