Credit: Shutterstock photoBandwidth, which provides software APIs with voice and text functionality to enterprises, announced terms for its IPO on Monday.
The Raleigh, NC-based company plans to raise $84 million by offering 4 million shares at a price range of $20 to $22. At the midpoint of the proposed range, Bandwidth would command a fully diluted market value of $423 million.
Bandwidth was founded in 1999 and booked $157 million in sales for the 12 months ended June 30, 2017. It plans to list on the Nasdaq under the symbol BAND. Morgan Stanley, KeyBanc Capital Markets and Baird are the joint bookrunners on the deal. It is expected to price during the week of November 6, 2017.
The article Communications platform Bandwidth sets terms for $84 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, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
