Salary.com sets pricing for $60M IPO

Waltham-based Salary.com Inc. has priced its initial public offering of 5.7 million shares of its common stock at $10.50 per share, officials report.

The offering is expected to close on Feb. 21. The shares are scheduled to begin trading on the NASDAQ Global Market today under the symbol "SLRY," company officials said.

The shares consist of 4.8 million shares being sold by the company and 801,557 shares being sold by certain stockholders. The almost $60 million proceeds from the offering will be used to repay outstanding debt and for general corporate purposes, officials said.

The company will not receive any of the proceeds from the sale of common stock held by the selling stockholders.

Salary.com, founded in 1999, employs 190 workers. In May 2006, the company acquired eComp Data Services from Aon Consulting, for an undisclosed amount.

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