Mavenir IPO Hits The Market

Richardson, Texas-based telecom software maker Mavenir Systems debuted in its IPO this morning, and is now trading slightly down from its IPO price on the New York Stock Exchange as MVNR. Mavenir priced its IPO last night at $10.00 per share, below its original estimated IPO range of $15.00 and $17.00 per share. The company's stock was trading slightly down in morning trading on Thursday. Mavenir sold 5,450,000 shares of its common stock in its IPO offering. Mavenir is venture backed by North Bridge Venture Partners, Austin Ventures, Alloy Ventures, August Ventures, and Cisco Systems.