Sonos, which designs and sells connected speakers and audio components, raised $208 million by offering 13.9 million shares at $15, below the range of $17 to $19. Insiders sold 60% of the offering.
Sonos plans to list on the Nasdaq under the symbol SONO. Morgan Stanley, Goldman Sachs, Allen & Company, RBC Capital Markets, Jefferies and KKR acted as lead managers on the deal.
