CHICAGO, Nov 1, 2007 (PrimeNewswire via COMTEX News Network) -- Neutral Tandem, Inc. (the "Company") today announced the pricing of its initial public offering of 6,649,928 shares of common stock, at a price of $14.00 per share. Of the 6,649,928 shares being offered, 6,250,000 shares will be sold by the Company and 399,928 shares will be sold by selling stockholders. The underwriters have a 30-day option to purchase up to an additional 997,489 shares from the Company at the initial public offering price less the underwriting discount. The Company will not receive any proceeds from the sale of shares by the selling stockholders. The Company's common stock is expected to begin trading on The NASDAQ Global Market on Friday, November 2, 2007 under the symbol "TNDM." The offering is expected to close on or about November 7, 2007.
Morgan Stanley & Co. Incorporated acted as the sole book-running manager for the offering. CIBC World Markets Corp. acted as co-lead manager and Raymond James & Associates, Inc., Thomas Weisel Partners LLC and William Blair & Company, LLC acted as co-managers. A registration statement relating to the offering was filed and declared effective by the Securities and Exchange Commission. The offering is being made only by means of a prospectus, copies of which may be obtained by contacting Morgan Stanley & Co. Incorporated, 180 Varick Street, New York, NY 10014; Attention: Prospectus Department or by email at email@example.com.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of the common stock in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Neutral Tandem, Inc.
The Company provides tandem interconnection services principally to competitive carriers, including wireless, wireline, cable telephony and Voice over Internet Protocol, or VoIP, companies. The Company's network currently carries approximately 3.4 billion minutes of traffic per month and is capable of terminating calls to an estimated 201 million assigned telephone numbers.
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SOURCE: Neutral Tandem Inc.
Neutral Tandem, Inc. Gerard Laurain (312) 384-8041 firstname.lastname@example.org
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