Construction software company Textura increases proposed IPO deal size to $63 million

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Textura, which provides on-demand project management software for the construction industry, raised the proposed deal size for its upcoming IPO on Wednesday. The Deerfield, IL-based company now plans to raise $63 million by offering 4.5 million shares at a price range of $13 to $15. The company had previously filed to offer 4.0 million shares at the same range. At the midpoint of the revised range, Textura will raise 13% greater proceeds than previously anticipated. The deal will value Textura at a fully diluted market value of $311 million, up from $304 million at the midpoint of the original terms.

Textura, which was founded in 2004 and booked $27 million in sales for the 12 months ended March 31, 2013, plans to list on the NYSE under the symbol TXTR. Textura filed confidentially on January 9, 2013. Credit Suisse and William Blair are the joint bookrunners on the deal. It is expected to price during the week of June 3, 2013.



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