Five9 Prices IPO Below Range

(RTTNews) - Five9, Inc. said Thursday that it has priced its initial public offering of 10 million shares of its common stock at a price to the public of $7.00 per share, which is below its previously estimated price range of $9.00 to $11.00 per share.

In addition, Five9 has granted the underwriters a 30-day option to purchase up to an additional 1.5 million shares of common stock to cover over-allotments, if any.

The shares will begin trading on April 4 on the Nasdaq Stock Market under the symbol "FIVN."

J.P. Morgan and Barclays are acting as lead joint book-running managers for the offering, with BofA Merrill Lynch also acting as book-running manager. Pacific Crest Securities, Canaccord Genuity and Needham & Company are acting as co-managers.