Veraz Networks, a provider of VoIP softswitches and gateways for wireless and wireline carriers, priced its 9.0 million share offering at $8, a -27% discount to the midpoint of its proposed $10-$12 range. Although Veraz is a contender in the fast growing VOIP market, the company has yet to turn a profit and the competitive landscape is crowded with much larger players. Credit Suisse and Lehman Brothers were the lead managers on the deal. Expect the stock to begin trading on the NASDAQ today under the symbol "VRAZ."
