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Revenue management solutions provider Model N sets terms for $87 million IPO

By: Renaissance Capital
Posted: 3/7/2013 7:55:00 AM
Referenced Stocks: MODN

Model N, which provides revenue management software to the life science and technology sectors, announced terms for its IPO on Thursday. The Redwood City, CA-based company plans to raise $87 million by offering 6.5 million shares at a price range of $12.50 to $14.50. At the midpoint of the proposed range, Model N would command a fully diluted market value of $331 million.

Model N, which was founded in 1999 and booked $89 million in sales for the 12 months ended 12/31/2012, plans to list on the NYSE under the symbol MODN. J.P. Morgan and Deutsche Bank are the joint bookrunners on the deal.