Mitel has announced that it has closed its initial public offering of 10,526,316 common shares at a price to the public of US$14.00 per common share for gross proceeds of USD$147,368,424. Mitel's common shares began trading on the NASDAQ Global Market under the symbol "MITL" on April 22, 2010.
The offering was made through an underwriting syndicate led by BofA Merrill Lynch, J.P. Morgan, and UBS Investment Bank, who acted as joint book-running managers. Piper Jaffray, Genuity Capital Markets, and JMP Securities acted as co-managers for the offering.
"This is an exciting milestone for Mitel," commented Don Smith, CEO, Mitel Networks. "It is a testament to the commitment of our employees, our strong customer and partner relationships, and our position as a leader in the IP-based business communications market. We look forward to continued growth with our focus on unified communications solutions that deliver tangible business benefits to our customers globally."