Motorola and Cisco Systems-backed Vocera Communications, which provides mobile technology for hospitals, is set to raise up to $80.5m in its initial public offering (IPO) after it set its range on Tuesday.
Vocera said 5.75m shares would be sold at between $12 per share to $14 per share, and 750,000 of the shares would be sold by shareholders, according to a filing with US regulator the Securities and Exchange Commission.
The top end of the range gives the business a $304.3m market capitalisation, based on its 21.7 million shares outstanding.
The company will trade on the New York Stock Exchange with the ticker VCRA.
Handset maker Motorola had a 4.9% stake prior to flotation and it is selling 72686 shares upon IPO, while technology company Cisco Systems owns a 3.7% stake and it is selling 265,801 shares at IPO.
The biggest shareholders in the company are Venrock (17.3% before flotation), Vanguard Ventures (15.7%), RRE Ventures (13.4%), GGV Capital (9.9%), Vocera executive chairman Robert Zollars (7.7%), Thomas Weisel Venture Partners (6.2%), and Vocera chief technology officer and founder Robert Shostak (5.5%).
The business has raised about $60.5m through financing activities in its history. The business was founded in 2000.
Financial advisers on the flotation are JP Morgan, Piper Jaffray, Baird, William Blair & Co, Wells Fargo Securities and Leerink Swann.
The company made $79.5m revenue, which grew by 40%, and a loss of $2.5m in 2011.