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Amber Road prices upsized IPO at $13, above the range
By: Renaissance Capital
Amber Road, which provides cloud-based global trade management software, raised $96 million by offering 7.4 million shares (35% insider) at $13, above the $10.50 to $12.50 range. The company had initially planned to offer 6.5 million shares. All additional shares sold were from insiders. At its offer price, Amber Road now commands a $356 million market cap and a $304 million enterprise value. Amber Road will list on the NYSE under the symbol AMBR. Stifel was the sole lead bookrunner and Pacific Crest acted as lead manager on the deal.