ORBCOMM, which operates 30 low-Earth orbit satellites for providing machine-to-machine communications, priced 9.2 million shares at $11, below its proposed $12-$14 range. The deal was expected to consist of an additional 1.9 million insider shares, but ultimately only the primary shares were offered. The stock is expected to begin trading on the NASDAQ on Friday under the ticker ORBC. UBS, Morgan Stanley, Banc of America and Cowen & Co. managed the deal.
