IPOs

E-commerce services provider ConversionPoint sets terms for $40 million IPO

ConversionPoint Holdings, which provides an AI-integrated SaaS platform for marketing and e-commerce services, announced terms for its IPO on Tuesday.

The Newport Beach, CA-based company plans to raise $40 million by offering 6.2 million shares at a price range of $6 to $7. At the midpoint of the proposed range, ConversionPoint Holdings would command a fully diluted market value of $194 million.

ConversionPoint Holdings was founded in 2016 and booked $113 million in sales for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol CPTI. Oppenheimer & Co. and GMP Securities are the joint bookrunners on the deal. It is expected to price during the week of May 13, 2019.

The article E-commerce services provider ConversionPoint sets terms for $40 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.

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