Vonage Cuts Customers In on IPO
The VOIP provider details a plan to allow its customers direct access to shares of its IPO offering, currently expected to price between $16 and $18.Vonage is cutting its customers in on its initial public offering. In an e-mail, the VOIP (voice over IP) provider detailed a plan to allow its customers direct access to shares of its IPO offering, currently expected to price between $16 and $18. "Because much of our success is attributable to our customers, we have asked the underwriters of the IPO to reserve shares of common stock for sale to certain Vonage customers at the IPO price in a Directed Share Program," the company said in an e-mail.
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- "An investment in Vonages common stock is considered highly speculative and aggressively risky. You could lose all the money you invest in Vonage common stock."
- "Vonage has had increasing losses since its inception and expects to continue to incur losses in the future."
- "Vonage operates in a highly competitive industry and competes with many companies that are bigger and financially stronger than it is."