ShoreTel Prices Initial Public Offering

ShoreTel, Inc., a provider of enterprise IP telephony solutions, today announced the pricing of its initial public offering of 7,900,000 shares of its common stock at a price to the public of $9.50 per share. In addition, ShoreTel has granted the underwriters a 30-day option to purchase up to an additional 1,185,000 shares of common stock. ShoreTel’s common stock will trade on the Nasdaq Global Market under the ticker “SHOR”.

Lehman Brothers Inc. and J.P. Morgan Securities Inc. are acting as joint book-running managers for the offering, and Piper Jaffray & Co., JMP Securities LLC, and Wedbush Morgan Securities Inc. are acting as co-managers.

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