Credit: Shutterstock photoApigee, which provides a cloud-based platform for businesses to design, deploy and scale APIs, raised $87 million by offering 5.1 million shares at $17, the midpoint of the $16-$18 range. With yesterday's announced insider buying from Third Point and Wellington, the free float will be 10% of diluted shares. At $17, Apigee commands a fully diluted market cap of $550 million and an enterprise value of $449 million. Apigee will list on the NASDAQ under the symbol APIC. Morgan Stanley, J.P. Morgan and Credit Suisse acted as lead managers on the deal.
The article API software provider Apigee prices IPO at $17, midpoint of the range originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
