Double-Take prices IPO shares

Double-Take Software Inc. announced today the pricing of its public offering of shares of common stock at $16 per share before underwriting discounts and commissions.

The Southborough-based company, a provider of software and services that enable customers to protect and recover business-critical data and applications, said that it expects the total net proceeds to the company will be about $1 million.

The offering of 2.79 million shares is expected to close Aug. 15, the company said; the offering consists of 100,000 shares being sold by the company and 2.69 million shares being sold by certain stockholders.

Thomas Weisel Partners LLC and Cowen and Company LLC are acting as the joint book-running managers, with CIBC World Markets Corp., Needham & Company LLC, Canaccord Adams Inc., and JMP Securities LLC acting as co-managers, Double-Take said.
(By Chris Reidy, Globe staff)