8×8 prices stock offering

8×8, Inc. (NASDAQ: EGHT) said it has priced a public offering of 12,500,000 shares of its common stock at a price to the public of USD9.25 per share.

In addition, 8×8 has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of its common stock. 8×8 will receive all of the proceeds from the sale of these shares. The offering is expected to close on November 20, 2013, subject to customary closing conditions.

BofA Merrill Lynch, Barclays, and Deutsche Bank Securities are acting as joint book-running managers for the offering. Needham & company, Craig-Hallum Capital Group, and Dougherty & company are acting as co-managers for the offering.

8×8 offers a comprehensive portfolio of unified cloud-based communications and collaboration services that includes hosted cloud telephony, office communications, hosted contact centre, video conferencing and virtual desktop software and services. The company has been delivering business services to SMB, mid-market and distributed enterprises since 2004.

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