Sonos Prices IPO At $15 A Share, Below Initial Target Range

Sonos has priced its IPO at $15 a share, below the range it specified last month of $17 to $19 a share. Led by underwriters Morgan Stanley and Goldman Sachs, the maker of high-end smart audio products, will start trading tomorrow on the Nasdaq, using the ticker symbol SONO. Even at the lowered price, the offering should still net more than $200 million at a valuation of almost $1.5 billion. Voice technology is propelling the interest in Sonos. The company has had a…

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