Veeva Systems increases range to $16 to $18, proposed deal size is now $222 million

By
A A A

Veeva Systems, which provides cloud-based software solutions for the life sciences industry, raised the proposed deal size for its upcoming IPO on Friday. The Pleasanton, CA-based company now plans to raise $222 million by offering 13.0 million shares (25% insider) at a price range of $16 to $18. The company had previously filed to offer 13.0 million shares at a range of $12 to $14. At the midpoint of the revised range, Veeva Systems would raise 31% greater proceeds than previously anticipated.

Veeva Systems, which was founded in 2007 and booked $168 million in sales for the 12 months ended July 31, 2013, plans to list on the NYSE under the symbol VEEV. Veeva Systems initially filed confidentially on June 27, 2013. Morgan Stanley and Deutsche Bank are the joint bookrunners on the deal. It is expected to price during the week of October 14, 2013.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: VEEV

Renaissance Capital

Renaissance Capital

More from Renaissance Capital:

Related Videos

Investing In Commodities
Investing In Commodities            

Stocks

Referenced

Most Active by Volume

74,282,785
  • $10.84 ▲ 11.64%
60,794,128
  • $17.12 ▲ 0.71%
55,628,662
  • $35.59 ▼ 1.00%
55,306,290
  • $116.47 ▲ 0.14%
55,118,241
  • $39.75 ▼ 0.43%
53,597,648
  • $9.41 ▲ 8.29%
41,889,990
  • $47.98 ▼ 1.48%
35,692,375
  • $97.34 ▼ 0.57%
As of 11/21/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com