Intermedia Launches IPO at $23 to $26 per Share

Intermedia Cloud Communications, Inc. launched the roadshow for the IPO of 12,244,898 shares of its common stock.

The offering consists of 10,204,082 shares offered by Intermedia and 2,040,816 shares to be sold by Intermedia’s sole shareholder. 

The underwriters will have a 30-day option to buy an additional 1,836,734 shares of Intermedia’s common stock from the selling shareholder at the initial public offering price, less underwriting discounts and commissions. The IPO price is expected to be between $23.00 and $26.00 per share. The shares are expected to trade on the Nasdaq Global Select Market under the symbol INTM.

Morgan Stanley and J.P. Morgan are acting as lead book-running managers for the proposed offering. Credit Suisse, Evercore ISI and Jefferies are acting as joint book-running managers for the proposed offering, and William Blair, KeyBank Capital Markets, TD Securities, Stephens Inc. and Loop Capital Markets are acting as co-managers for the proposed offering.