Tangoe, Inc. (NASDAQ: TNGO) is selling shares. The company filed its paperwork with the Securities and Exchange Commission to sell a total of 8,000,000 shares of common stock. The company is selling 2,200,000 shares of common stock, and selling stockholders are offering an additional 5,800,000 shares of common stock in the offering.
The underwriting group is listed as follows: Deutsche Bank Securities; Barclays Capital; Stifel Nicolaus Weisel; Lazard Capital Markets; and Raymond James. The company will not receive any proceeds from the sale of shares by the selling stockholders.
Tangoe calls itself a global provider of communications lifecycle management software and services to large and medium-sized businesses and other organizations.
Shares closed at $18.43 and the 52-week trading range is $8.01 to $19.90. The market cap as of the closing bell was about $607 million. Shares are down over 5% at $17.35 on the news of the share sale.
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