It management software company SolarWinds sets terms for $756 million IPO

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SolarWinds, which provides hybrid IT infrastructure management software, announced terms for its IPO on Friday.

The Austin, TX-based company plans to raise $756 million by offering 42 million shares (60% insider) at a price range of $17 to $19. At the midpoint of the proposed range, SolarWinds would command a fully diluted market value of $5.5 billion.

SolarWinds was founded in 1999 and booked $786 million in revenue for the 12 months ended June 30, 2018. It plans to list on the NYSE under the symbol SWI. Goldman Sachs, J.P. Morgan, Morgan Stanley, Credit Suisse, BofA Merrill Lynch, Barclays, Citi, Evercore ISI, Jefferies, Macquarie Capital, Nomura Securities and RBC Capital Markets are the joint bookrunners on the deal.

The article It management software company SolarWinds sets terms for $756 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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