Vonage IPO to Ring May 23


Mark your calendars for May 23, the date that Internet-telephony giant Vonage Holdings Corp.’s long-awaited initial public offering is set to hit the streets.

Vonage revealed that date in a filing with the Securities and Exchange Commission Tuesday, consisting mainly of screen shots of its Web site (www.vonageipo.com) for a special offer allowing certain Vonage customers to participate in the IPO. As part of that filing, Vonage listed the expected offering date for the IPO as May 23.

Vonage plans to issue about 31.25 million shares, priced at $16-$18 each, through the IPO. Another 4.7 million shares would be set aside for underwriters’ overallotments, making the total proceeds from the offering $575 million-$647 million.

Citigroup, Deutsche Bank Securities, UBS Investment Bank, Bear, Stearns & Co. Inc., Piper Jaffray & Co. and Thomas Weisel Partners LLC are serving as underwriters for the offering.