BigCommerce Holdings, which provides a cloud-based platform for businesses to create online stores, raised $216 million by offering 9.0 million shares (76% primary) at $24, above the upwardly-revised range of $21 to $23. New investor Tiger Global had indicated on buying up to 20% of the IPO.
The company had originally filed to to offer 6.9 million shares (100% primary) at a range of $18 to $20, before it increased the range and added insider selling on Monday.
BigCommerce is a close competitor of Shopify, the best-performing IPO of the past decade.
BigCommerce Holdings plans to list on the Nasdaq under the symbol BIGC. Morgan Stanley, Barclays, Jefferies and KeyBanc Capital Markets acted as lead managers on the deal.
The article Bigger Commerce: E-commerce SaaS platform BigCommerce prices IPO above the upwardly-revised range at $24 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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