SUNNYVALE, CA, November 19, 2007 - ShoreTel, Inc., (NASDAQ: SHOR), a leading provider of IP telecommunications systems, announced today that certain selling stockholders plan to offer 4.4 million shares of ShoreTel common stock in an underwritten public offering. The Company will not be selling any shares in the offering and will not receive any proceeds from the sale of shares by the selling stockholders.
Lehman Brothers Inc. and J.P. Morgan Securities Inc. are serving as joint bookrunning managers of the offering, and Piper Jaffray & Co., JMP Securities LLC, and Wedbush Morgan Securities Inc. are acting as co-managers.
Copies of the prospectus, when available, may be obtained from the prospectus department of Lehman Brothers Inc., c/o Broadridge, 1155 Long Island Avenue, Edgewood, NY 11717 (fax: 1-631-254-7140, or e-mail at firstname.lastname@example.org) or from J.P. Morgan Securities Inc., 4 Chase Metrotech Center, CS Level; Brooklyn, New York 11245 (telephone: 1-718-242-8002).
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may any offers to buy be accepted prior to the time the registration statement becomes effective.
This news release does not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.