Customer experience platform Medallia sets terms for $247 million IPO

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Medallia, an enterprise customer experience and feedback management platform, announced terms for its IPO on Monday.

The San Francisco, CA-based company plans to raise $247 million by offering 14.5 million shares (8% insider) at a price range of $16 to $18. At the midpoint of the proposed range, Medallia would command a fully diluted market value of $2.8 billion.

Medallia was founded in 2001 and booked $337 million in sales for the 12 months ended April 30, 2019. It plans to list on the NYSE under the symbol MDLA. BofA Merrill Lynch, Citi, Wells Fargo Securities and Credit Suisse are the joint bookrunners on the deal. It is expected to price during the week of July 15, 2019.

The article Customer experience platform Medallia sets terms for $247 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

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

This article appears in: News Headlines , IPOs

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