Education software provider Instructure sets terms for $75 million IPO
Instructure, which operates an online learning management system, announced terms for its IPO on Monday.
The Salt Lake City, UT-based company plans to raise $75 million by offering 4.4 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Instructure would command a fully diluted market value of $493 million.
Instructure, which was founded in 2008 and booked $65 million in sales for the 12 months ended September 30, 2015, plans to list on the NYSE under the symbol INST. Morgan Stanley, Goldman Sachs and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of November 9, 2015.
The article Education software provider Instructure sets terms for $75 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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